The Globe and Mail reports in its Wednesday edition that the U.S. Securities and Exchange Commission said on Tuesday that someone posted a fake message on its social media account on platform X, claiming that it had given the much-anticipated approval for spot bitcoin exchange-traded funds. A Reuters dispatch to The Globe says that the regulator has not yet approved spot bitcoin ETFs. The unauthorized post on X, formerly known as Twitter, said that the SEC had granted approval for bitcoin ETFs on all registered national securities exchanges and included a picture purporting to quote SEC chair Gary Gensler. The post was picked up by Reuters and other news media that monitor the SEC's account. The price of bitcoin jumped after the post. The posting came as the SEC was widely expected on Wednesday to finally approve a batch of ETFs that track the price of bitcoin, in a potential watershed moment for the crypto industry. The unauthorized post surprised the industry, with insiders scrambling to find out whether it was true and why the SEC would first publish something on social media. One ETF issuer executive said he was "concerned" that the SEC might delay or withhold approval for spot bitcoin ETFs as a result of the hack.