SEC Hack Provides to Unease Over Bitcoin ETF Approval

WASHINGTON—The hack of the Securities and Alternate Fee’s X account this week possible complicates an anticipated vote Wednesday on whether or not to greenlight exchange-traded funds holding bitcoin. 

The choice, which individuals near the company count on to happen through a closed-door vote by the company’s 5 commissioners, was already controversial. U.S. regulators have little visibility into crypto markets, which SEC Chair Gary Gensler has stated are rife with fraud and manipulation. A bitcoin ETF might draw extra buyers into the asset class, doubtlessly exposing them to hurt, critics say.