(Updated - January 9, 2024 4:38 PM EST)

The SEC has not approved Bitcoin ETFs, as reported earlier on the SEC's official X account. SEC Chairman Gary Gensler said the account was "compromised."

"The@SECGov twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products," Gensler tweeted.

The apparent flagrant post read:

"Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges."

“Today’s approval enhances market transparency and provides investors with efficient access to digital asset investments within a regulated framework,” an apparent flagrant quote from Gensler added.

After initially spiking higher on the false report, Bitcoin price is down about 2.7% to $45,784.74. Coinbase (NASDAQ: COIN) is down 1.4% at 16:36 EDT (21:36 GMT).