Good morning. It’s Bitcoin ETF decision day and the temperature is rising after the SEC’s X account was hacked. Plus, investors are clamoring for new bonds, the oil market is indecisive and fake news is a key worry this year. Here’s what people are talking about. — Sofia Horta e Costa
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It’s today — the long-awaited deadline for the US Securities & Exchange Commission to vote on spot-Bitcoin ETF applications. If crypto markets weren’t dramatic already, the SEC’s X account was hacked on Tuesday and a fake post was published claiming that the agency had approved the plans. The largest digital asset surged almost 60% in the final quarter of last year on bets that the products will help bolster Bitcoin demand. It’s why for some observers, the question now is whether the actual green light could become a reason for speculators to trim some profits — especially as it remains uncertain whether the ETFs will succeed in making Bitcoin more of a mainstream asset. SEC Chair Gary Gensler warned on X that people considering investing in crypto assets should “be cautious’’ and there are “serious risks involved.’’ Here’s Bloomberg Daybreak’s podcast covering the Bitcoin drama.
Read More: Stock Markets Today: Bitcoin ETF, SEC hack, bonds, oil, Houthi attacks