Bitcoin ETFs are retail accessible trading vehicles for the digital asset itself.
They have direct exposure to Bitcoin and most of these tend to be based on its expected price based on futures contracts that are trading on exchanges like Coinbase and NYC.
The spot Bitcoin ETF is a retail accessible trading vehicle for the digital asset itself. It has direct exposure to Bitcoin and most of these tend to be based on its expected price based on futures contracts that are trading on exchanges like Coinbase and NYC. The SEC, which oversees financial instruments in the United States, has not yet approved spot Bitcoin ETFs for trading.
Spot Bitcoin ETF is a retail accessible trading vehicle for Bitcoin
It has direct exposure to the digital asset itself
Futures ETF in the US, most of these tend to be based on Bitcoin's expected price based on futures contracts that are trading on exchanges like CO and NYC
Accuracy
Bitcoin swings sharply after false claim that SEC approved ETFs
The price of bitcoin briefly spiked after the initial post, but then quickly slid below $46,000.
<p>An unauthorized tweet regarding bitcoin ETFs was made on social media by an unknown party who had access to the SEC's X account for a brief period just after 4 p.m. ET.</p>
The SEC is expected to make a decision on bitcoin ETFs this week after opposing them for years.
<p>More than a dozen asset managers have filed applications to create such funds, including many that filed updated registration statements Tuesday morning.</p>
Deception
(50%)
The article is deceptive in several ways. Firstly, the title claims that the SEC has approved ETFs for Bitcoin when there is no evidence to support this claim. Secondly, the author uses sensationalist language such as 'swings sharply' and 'false claim' to create a sense of urgency and importance without providing any context or evidence. Thirdly, the article contains several calls-to-action that are designed to manipulate readers into subscribing to their services.
The title claims that the SEC has approved ETFs for Bitcoin when there is no evidence to support this claim.
Fallacies
(100%)
None Found At Time Of
Publication
Bias
(85%)
The article contains a false claim that the SEC approved ETFs. The author also uses language that dehumanizes Bitcoin and its supporters.
> False claim: 'Bitcoin swings sharply after false claim that SEC approved ETFs'
Spot Bitcoin ETF is a retail accessible trading vehicle for Bitcoin
It has direct exposure to the digital asset itself
Futures ETF in the US, most of these tend to be based on Bitcoin's expected price based on futures contracts that are trading on exchanges like CO and NYC
Accuracy
No Contradictions at Time
Of
Publication
Deception
(50%)
The article is deceptive in that it presents a false comparison between spot Bitcoin ETFs and futures ETFs. The author states that spot Bitcoin ETFs have direct exposure to the digital asset price while futures ETFs are based on the future price of Bitcoin. However, this statement is not entirely accurate as some futures contracts trade in cash settled which means they do not settle in actual Bitcoins but rather a monetary value equivalent.
The author states that spot Bitcoin ETFs have direct exposure to the digital asset price while futures ETFs are based on the future price of Bitcoin. However, this statement is not entirely accurate as some futures contracts trade in cash settled which means they do not settle in actual Bitcoins but rather a monetary value equivalent.
An unauthorized tweet regarding bitcoin ETFs was made on social media by an unknown party who had access to the SEC's X account for a brief period just after 4 p.m. ET.
Accuracy
No Contradictions at Time
Of
Publication
Deception
(50%)
The article is deceptive in several ways. Firstly, the initial tweet from the SEC's account stating that bitcoin ETFs had been approved was false and misleading to readers. Secondly, there are statements made by an anonymous source claiming that a hacker gained unauthorized access to the SEC's X account for a brief period just after 4 p.m., which is not confirmed or supported by any evidence presented in the article.
The initial tweet from the SEC's account stating that bitcoin ETFs had been approved was false and misleading to readers.
Fallacies
(70%)
The article contains several fallacies. The author uses an appeal to authority by citing Gary Gensler's opposition to crypto and the SEC's legal action against major crypto exchanges as evidence of their stance on cryptocurrencies. However, this does not necessarily mean that the SEC will approve or reject bitcoin ETFs based solely on these factors. The author also uses a false dilemma by stating that either investors are spooked by the intricacies around custody of bitcoin and therefore less likely to buy crypto in an ETF wrapper, or they are more willing and able to do so. This oversimplifies the complexities surrounding cryptocurrencies and their potential use cases. Additionally, the author uses inflammatory rhetoric when stating that a false social media post was made about bitcoin ETFs being approved by the SEC.
The author cites Gary Gensler's opposition to crypto as evidence of the SEC's stance on cryptocurrencies. This is an appeal to authority fallacy.
Bias
(100%)
None Found At Time Of
Publication
Site
Conflicts
Of
Interest (100%)
None Found At Time Of
Publication
Author
Conflicts
Of
Interest (50%)
Jesse Pound has a conflict of interest on the topics of bitcoin and exchange-traded funds (ETFs) as he is an author for CNBC which covers these topics extensively. He also has a personal relationship with Gary Gensler who was recently appointed as Chairman of the SEC, which regulates ETFs.
Gary Gensler was recently appointed as Chairman of the SEC, which regulates ETFs. Jesse Pound has a personal relationship with Gary Gensler.
Jesse Pound is an author for CNBC, a news outlet that frequently reports on bitcoin and exchange-traded funds (ETFs).
Jesse Pound is an author for CNBC, a news outlet that frequently reports on Grayscale and other crypto asset managers.
