Cointelegraph’s X account (formerly Twitter) yesterday published a post that the SEC approved Blackrock’s iShare Bitcoin Spot ETF. This news was immediately shared and spread among the crypto community. As a result, BTC price surged to $30,000 in a short time.
However, at that time, the community was still skeptical about the authenticity of this news because no detailed documents have been published. ETF analyst James Seyffart from Bloomberg said it was just fake news even though the approval process for the Bitcoin ETF is still active.
Then, FOX Business reporter Eleanor Terrett also said she contacted Blackrock for confirmation, and this agency confirmed it was fake news. According to Blackrock, their application is still being reviewed by the SEC.
Right after the news was spread, Bitcoin rose sharply to $30,000 before falling to $28,000. The US SEC at the end of September delayed spot Bitcoin ETF decision for all applicants including Blackrock. The SEC has not yet approved any Bitcoin spot ETFs due to concerns about fraud and price manipulation in the crypto market.
