BTC jumps on fake news about BlackRock’s Bitcoin ETF

Bitcoin (BTC) – Credit: Shutterstock

The Bitcoin price has soared as a result of false reports indicating that the SEC had approved a Cash ETF on the market’s leading cryptobefore rapidly fall back.

This Monday afternoon, several Twitter accounts, including CoinTelegraphreported that the U.S. Securities and Exchange Commission had given the go-ahead for the launch of the first Bitcoin spot fund.

Following the news, which was actually fake news, the price of BTC jumped and briefly exceeded $29,000 before falling back as more reliable sources, such as Fox Businessdenied the information. The giant BlackRock’s application is still under study.

🚨BlackRock has just confirmed to me that this is false. Their application is still under review. https://t.co/XIfIWZ0Ule

– Eleanor Terrett (@EleanorTerrett) October 16, 2023

Recently, analysts at Bloomberg estimated that there was now a 90% chance that the SEC would approve a Bitcoin spot ETF by early January 2024.

It isn’t true. Someone spread false info looks like. @Cointelegraph care to say where you heard this? pic.twitter.com/ezaCY6d6c1

– Eric Balchunas (@EricBalchunas) October 16, 2023

24-hour Bitcoin price – Tradingview

Careful what you read on the internet. The best source of information about the SEC is the SEC.

– U.S. Securities and Exchange Commission (@SECGov) October 16, 2023

Article updated on 17/10/2023: SEC tweet added at end of article.

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