According to Terrett, the SEC will meet with Nasdaq, CBOE and NYSE exchanges today to finalize comments on 19b-4s submitted by spot Bitcoin ETF issuers.

A 19b-4 is a form used to notify the SEC of proposed amendments.

Earlier in the day, Matrixport's claim that the SEC would reject spot Bitcoin ETFs dropped like a bomb on the crypto sector. Following the events, the Bitcoin price also saw a big drop.

After Terrett's claim, Bitcoin recovered and rose above the $43,000 level again.