As crypto proponents go into a celebration frenzy over the historic approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) on Jan. 10, there’s one user on X (formerly Twitter) who has been radio silent on the platform.
Over the past day, tens of thousands of crypto users on X have flooded the platform, celebrating the approval of spot Bitcoin ETFs. The hashtag #BitcoinETF is trending on X, while the search term “Bitcoin ETF” reached a maximum score of 100 on Google Trends.
Many crypto users on X have described the day as historic as 11 issuers received approvals to list and trade Bitcoin ETFs on United States exchanges.
“This is a big deal. But keep in mind it almost didn’t happen,” wrote Coinbase chief legal officer Paul Grewal, adding that Grayscale’s pushback against the SEC was key in getting the ETF approvals over the line. SEC Commissioner Hester Pierce offered similar sentiments in her official statement on the matter.
This is a big deal. But keep in mind this almost didn’t happen. 1/3 https://t.co/ldVkLgTcqr
— paulgrewal.eth (@iampaulgrewal) January 10, 2024
But one party has been pretty silent on the event despite being a regular poster on X.
The SECGov X account, operated by the U.S. Securities and Exchange Commission (SEC), hasn’t posted anything since confirming its account was compromised on Jan. 9, which came after a “bungled” tweet about Bitcoin ETF approvals.
“The @SECGov X account was compromised, and an unauthorized post was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products,” read the contents of its most recent public message on Tuesday.
However, this hasn’t stopped Crypto X from tagging SECGov in a tidal wave of posts concerning the more intricate details of the approval process and lashing the regulator for its “glaring incompetence” in handling the security of its account.
Related: SEC says it’s coordinating with FBI to investigate ‘compromised’ ETF tweet
The SEC’s post about its account hack now stands as the most-liked post in the account’s history on X, racking up more than 18,000 likes and 8.1 million impressions.
The @SECGov X account was compromised, and an unauthorized post was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.
— U.S. Securities and Exchange Commission (@SECGov) January 9, 2024
Other big names — including one of the ETF issuers — took the opportunity to generate some traction on the back of the announcement.
The official X account of Franklin Templeton updated its logo with a pair of laser eyes — a symbol used by Bitcoin advocates on social media to demonstrate an ideological alignment with the asset.
#NewProfilePic pic.twitter.com/OZTfkehgUa
— Franklin Templeton (@FTI_US) January 10, 2024
Bloomberg ETF analyst James Seyffart said the ETFs will likely be live for trading as soon as Jan. 11.
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