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Bitcoin ETF News Stirred Things Up! News of the U.S. Securities and Exchange Commission (SEC) allegedly granting approval for a spot Bitcoin ETF, which was later debunked, shook the markets. As a result of this development, the largest cryptocurrency experienced a $2,000 price fluctuation in just 20 minutes. Bitcoin rose from $27,700 level to $30,000 level within minutes. This sudden increase is attributed to the claim the SEC has approved Bitcoin spot ETFs. However, It appears that this claim was false.
According to Bloomberg analysts: Still Unverified News (Bitcoin ETF News)
While the U.S. media reported news that the U.S. Securities and Exchange Commission (SEC) approved a spot Bitcoin ETF, two prominent ETF analysts of the financial world, Eric Balchunas and James Seyffart, indicated that they are still unable to verify these news. Balchunas said, “I think I will start a day with the headline ‘Bitcoin spot ETF accepted,’ but it still seems early for this day. I have not been able to verify the news yet.”
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Fox reporter Eleanor Terrett reported that she asked BlackRock company officials about the issue. It says the news was “fake.” They also said they were still investigating the truthfulness of the news.
Another Bloomberg ETF analyst, James Seyffart also stated this news is “fake.”
Following these “fake news” claims, Bitcoin rapidly retreated from the $30,000 level and fell back below $28,000. In approximately 20 minutes, the largest cryptocurrency experienced a $2,000 increase and showed the same rate of decrease.
The BlackRock company also stated in its announcement that its application is still under review by the SEC.
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