The Securities and Exchange Commission said its official X account was “compromised” when it posted late Tuesday that the agency had approved exchange-traded funds holding bitcoin, forcing Chair Gary Gensler and the regulator to disavow the mistaken post.

Bitcoin briefly jumped to near $48,000 before Gensler said on the social-media network that the message was “unauthorized” and that the SEC “has not approved the listing and trading of spot bitcoin exchange-traded products.” The SEC later issued a similar message. Bitcoin has more than doubled since last January, in part on the expectation that approval would fuel further purchases of digital currencies.