{"id":5459,"date":"2023-10-17T14:23:16","date_gmt":"2023-10-17T14:23:16","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=5459"},"modified":"2023-10-17T14:23:16","modified_gmt":"2023-10-17T14:23:16","slug":"wrong-etf-news-cost-100-million-dollars","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/wrong-etf-news-cost-100-million-dollars\/","title":{"rendered":"Wrong ETF News Cost 100 Million Dollars"},"content":{"rendered":"<p><strong>Wrong ETF News Cost 100 Million Dollars! <\/strong>The United States Securities and Exchange Commission (SEC) has not officially approved a spot <strong>Bitcoin ETF<\/strong> yet. However, there were rumors today on X that the SEC had approved <strong>BlackRock<\/strong>&#8216;s Bitcoin spot <strong>ETF<\/strong> application, causing significant speculation.<\/p>\n<p>This unconfirmed development seems to be the beginning of the eagerly awaited bull season, and the <strong>Bitcoin<\/strong> price suddenly rose to the $30,000 mark. However, this hype lasted short and the <strong>BTC<\/strong>&#8216;s value declined back to the $28,000 level.<\/p>\n<p>Market experts agree SEC will not reject the spot <strong>Bitcoin ETF<\/strong> application of a financial giant like <strong>BlackRock <\/strong>easily. According to the rumors, <strong>SEC<\/strong> had approved a <strong>Bitcoin<\/strong> spot <strong>ETF<\/strong>. However, there was no information on this rumor on the official channels of both <strong>SEC<\/strong> and <strong>Nasdaq<\/strong>. The definitive response came from BlackRock: \u201cOur ETF application is still being reviewed by the SEC.\u201d<\/p>\n<blockquote>\n<hr \/>\n<p class=\"p1\">You might like: <span style=\"text-decoration: underline;\"><a href=\"https:\/\/coinengineer.net\/blog\/binance-lists-new-altcoin\/\" target=\"_blank\" rel=\"noopener\"><em><strong>Binance, Lists New Altcoin!<\/strong><\/em><\/a><\/span><\/p>\n<\/blockquote>\n<hr \/>\n<p><strong>Eric Balchunas<\/strong>, a senior <strong>ETF<\/strong> analyst at Bloomberg, stated that the source of this rumor was <strong>Cointelegraph<\/strong>. The news was also quickly shared by media outlets like <strong>Reuters<\/strong>, leading to a sudden rise in the <strong>BTC<\/strong> price.<\/p>\n<h2><span style=\"font-size: 85%;\">Wrong ETF News!<\/span><\/h2>\n<p>A new statement from <strong>Cointelegraph<\/strong> confirms that the previous rumor led to misinterpretation. Here is the updated version of the statement:<\/p>\n<p>\u201cWe apologize for causing misunderstanding about the <strong>BlackRock ETF<\/strong> application. Our internal audits continue and we are preparing to share our findings with the public.\u201d<\/p>\n<p>The speculations caused Bitcoin&#8217;s price to suddenly rise to the $30,000 level and this led to the liquidation of a fund of about $100 million in the market. About $70 million of this amount was loss by investors in their short positions.<\/p>\n<p>It is not yet clear whether the <strong>ETF<\/strong> rumor is a planned show or a misunderstanding. However, such incidents often occur in the market, and speculations are exist to attract attention and sensitivity of investors. Such incidents can affect market participants and while some can gain greatly, others can suffer significant losses.<\/p>\n<hr \/>\n<p><em>In the comment section, you can freely share your comments about the topic. Additionally, don\u2019 t forget to follow us on\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>,\u00a0<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wrong ETF News Cost 100 Million Dollars! The United States Securities and Exchange Commission (SEC) has not officially approved a spot Bitcoin ETF yet. However, there were rumors today on X that the SEC had approved BlackRock&#8216;s Bitcoin spot ETF application, causing significant speculation. This unconfirmed development seems to be the beginning of the eagerly<\/p>\n","protected":false},"author":1,"featured_media":5458,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[61,535,60,2024,297,577,1650],"class_list":["post-5459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bitcoin","tag-blackrock","tag-btc","tag-cointelegraph","tag-etf","tag-nasdaq","tag-x"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wrong ETF News Cost 100 Million Dollars - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Wrong ETF News Cost 100 Million Dollars! SEC has not officially approved a spot Bitcoin ETF yet. 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