Coinbase’s Deleted Tweet Fuels Speculations About Bitcoin ETF, Here’s the Truth

Published by
Coinbase’s Deleted Tweet Fuels Speculations About Bitcoin ETF, Here’s the Truth

Coinbase Inc., the world’s leading public crypto exchange tweeted an official blog titled “Coinbase Report: Expect Growth in crypto Fund and SEC Approved ETF Soon.” However, the tweet was deleted soon after giving fire to speculations about possible Bitcoin ETF approval by SEC in October. The speculation mill believes the recently deleted tweet is a possible hint at the approval of the first-ever crypto ETF in the US.

Source: Twitter

 

The demand for a crypto ETF is at an all-time high and Gary Gensler’s comment about a Futures ETF having a better chance of approval has made several ETF managers file for Bitcoin Strategy ETF instead of physical ones and nearly half a dozen firms have already filed for it.  A Bloomberg ETF analyst pointed that the response period on Bitcoin Strategy ETF is about 75 days which comes to an end in October, thus one can expect approval in this time frame.

The analyst also claimed if a Futures Bitcoin ETF is approved in 2021, a physical ETF won’t be far-fetched by 2022. However, he noted that these are purely based on the review period and don’t guarantee the stance of the SEC as they might reject it all together given their ongoing stance towards the crypto market.

Crypto proponents hoped the outset of former SEC chief Jay Clayton and induction of Gary Gensler would make way for the first crypto ETF in the US. However, Gensler is proving to be a bigger threat than Clayton. Many expected the approval of crypto ETFs in Europe and Canada would make the SEC give it a nod, but that hasn’t happened either.

Advertisement

Coinbase Tweet a Mistake or Fluke?

Many crypto proponents believe the Tweet made by Coinbase could be a mistake as the article shared along with it seemed a couple of months old.

On the other hand, a few crypto skeptics deemed it an elaborate plan to pump Bitcoin price and also claimed the SEC would not approve a crypto ETF anytime soon. A Twitter handle who goes by the name of Mr. Whale said it is a wishful thinking and chances of actual approval are quite low.

Advertisement

Share
Prashant Jha

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Trump-Backed World Liberty (WLFI) Plans RWA Tokenization Paired with USD1 Stablecoin

Trump Family's World Liberty Financial has unveiled big real-world asset (RWA) tokenization plans on Wednesday,…

October 1, 2025
  • 24/7 Cryptocurrency News

Stripe Eyes U.S. Banking Charter, Pioneers One-Click Stablecoin Issuance for Firms

Fintech giant Stripe has unveiled a suite of tools to enable businesses to tap into…

October 1, 2025
  • 24/7 Cryptocurrency News

Breaking: Metaplanet Expands Treasury With 5,268 BTC Purchase, Climbs to 4th Largest Holder

Metaplanet has expanded its Bitcoin portfolio with another purchase. The Tokyo-listed firm is now the…

October 1, 2025
  • Bitcoin News

BREAKING: Nasdaq Files with US SEC to List BlackRock Bitcoin Premium Income ETF

Nasdaq has officially filed to list and trade BlackRock iShares Bitcoin Premium Income ETF with…

October 1, 2025
  • 24/7 Cryptocurrency News

Mr Beast, Whales Buy ASTER Token Amid 20% Crash, What’s Next?

While the ASTER token has crashed 20% in the last 24 hours, to test the…

October 1, 2025
  • 24/7 Cryptocurrency News

Breaking: U.S. Government Shuts Down After Congress Fails to Pass Funding Bill

The U.S government has entered its first shutdown since 2019 after lawmakers failed to reach…

October 1, 2025