FRANKFURT/NEW YORK (dpa-AFX) – Conflicting notifications regarding the approval of exchange-traded Bitcoin funds (ETF) sent the crypto industry into turmoil on Tuesday evening. At first it appeared in a statement on the short message platform X that the US Securities and Exchange Commission (SEC) was clearing the way for a listing. Subsequently, a statement from the head of the supervisory authority said that the report was false. Accordingly, hackers gained access to the official SEC user account and sent the message.
The price of the oldest and best-known digital currency initially jumped briefly on the Coinbase trading platform, but then reversed just above the 47,900 point mark and came under pressure because of the new findings. Most recently, the price was lower at around $45,500. The Bitcoin price had recently benefited significantly from speculation about a hoped-for positive decision: since mid-October alone, it had gained 76 percent at its peak.
Market expert Timo Emden from Emden Research believes it is possible that recent events will lead to a postponement of the SEC’s decision on approval. “The misleading news about the alleged approval of a Bitcoin spot ETF in the USA impressively underlines the challenges of investor protection and should provide the US regulator SEC with powerful arguments to put it through its paces again in a future decision to examine,” he said. However, the SEC has to decide by January 10th. The chances have increased that the authority will put its decision on hold at the last minute.
But according to Emden, investors could also be unsettled by the confusion. “It remains to be seen whether investors remain optimistic despite the confusion at this point in time.” In the short term, their trust may seem lost./tih/he/he
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