The U.S. Securities and Exchange Commission (SEC) has finally issued its decision on the Ark&21Shares application for a spot Bitcoin ETF, following two false market alerts. The most recent of these occurred about 24 hours prior to the official announcement, causing confusion and anticipation among investors.
Previously, Cointelegraph mistakenly reported that the SEC had approved a spot Bitcoin ETF, leading to a temporary surge in BTC price to $30,000 before it fell sharply. A second false announcement was made through the SEC’s official Twitter account, which investors initially believed despite the improbability of such a critical error at this juncture.
The second “Breaking Approval” announcement turned out to be another error. Investors had been eagerly awaiting the final decision on the spot Bitcoin ETF application, especially after the previous misleading announcements. With the deadline for the SEC’s decision being January 10, the tension and anticipation had been building for months, with investors preparing bots and macros to catch the initial price movement.
The SEC has now made its conclusive decision on the spot Bitcoin ETF, approving it after a long period of speculation and false starts. This marks a significant moment for investors who have been following the developments closely.