Bitcoin Suddenly Leaps To $30,000 Following Refuted IShares Spot ETF Approval Report
The post Bitcoin Suddenly Leaps To $30,000 Following Refuted IShares Spot ETF Approval Report appeared on BitcoinEthereumNews.com. The headquarters for BlackRock, an Investment management and financial services firm, in New York … [+] City. (Photo by Gary Hershorn/Getty Images) Getty Images Cryptocurrency markets experienced a sudden surge in bitcoin prices following a now-debunked report on a bitcoin ETF approval by the U.S. Securities and Exchange Commission. The erroneous report initially propelled bitcoin’s value to the $30K mark. However, the momentum was short-lived as the digital currency’s price soon plummeted to around $28K, stirring volatility within the market. The now-deleted X post prompting this reaction came from the cryptocurrency news site Cointelegraph. It claimed that BlackRock’s BLK iShares division, dedicated to exchange-traded funds, had secured the SEC’s approval for a pioneering bitcoin spot ETF. The news spread like wildfire, triggering the market reaction that pushed bitcoin prices to $30K within the hour. Now-deleted screenshot of Cointelegraph’s tweet: “BREAKING: SEC APPROVES ISHARES BITCOIN SPOT ETF.” … [+] (https://x.com/Cointelegraph/status/1713908025520538079?s=20) X Corp. The news quickly gained traction and was further propagated by coverage appearing in Reuters, among other outlets. This sequence of events led to a significant market reaction, prompting bitcoin’s price to briefly soar to the $30K mark. However, official confirmations from both the SEC and Nasdaq refuted these claims. BlackRock itself issued a statement clarifying that their proposed bitcoin spot ETF was still under review by the SEC, as reported by Blockworks. As this morning’s events unfolded, it catalyzed a sharp rise in liquidations, nearing a staggering $100 million. The Impact Of A Bitcoin Spot ETF Approval In June, BlackRock’s iShares division, a giant in the fund management sector, submitted documents to the SEC proposing the establishment of a bitcoin spot ETF. As detailed in the submission, the proposed entity, the iShares Bitcoin Trust, plans to primarily hold bitcoin via a custodian representing the trust. The documents designate the…
The post Bitcoin Suddenly Leaps To $30,000 Following Refuted IShares Spot ETF Approval Report appeared on BitcoinEthereumNews.com.
The headquarters for BlackRock, an Investment management and financial services firm, in New York … [+] City. (Photo by Gary Hershorn/Getty Images) Getty Images Cryptocurrency markets experienced a sudden surge in bitcoin prices following a now-debunked report on a bitcoin ETF approval by the U.S. Securities and Exchange Commission. The erroneous report initially propelled bitcoin’s value to the $30K mark. However, the momentum was short-lived as the digital currency’s price soon plummeted to around $28K, stirring volatility within the market. The now-deleted X post prompting this reaction came from the cryptocurrency news site Cointelegraph. It claimed that BlackRock’s BLK iShares division, dedicated to exchange-traded funds, had secured the SEC’s approval for a pioneering bitcoin spot ETF. The news spread like wildfire, triggering the market reaction that pushed bitcoin prices to $30K within the hour. Now-deleted screenshot of Cointelegraph’s tweet: “BREAKING: SEC APPROVES ISHARES BITCOIN SPOT ETF.” … [+] (https://x.com/Cointelegraph/status/1713908025520538079?s=20) X Corp. The news quickly gained traction and was further propagated by coverage appearing in Reuters, among other outlets. This sequence of events led to a significant market reaction, prompting bitcoin’s price to briefly soar to the $30K mark. However, official confirmations from both the SEC and Nasdaq refuted these claims. BlackRock itself issued a statement clarifying that their proposed bitcoin spot ETF was still under review by the SEC, as reported by Blockworks. As this morning’s events unfolded, it catalyzed a sharp rise in liquidations, nearing a staggering $100 million. The Impact Of A Bitcoin Spot ETF Approval In June, BlackRock’s iShares division, a giant in the fund management sector, submitted documents to the SEC proposing the establishment of a bitcoin spot ETF. As detailed in the submission, the proposed entity, the iShares Bitcoin Trust, plans to primarily hold bitcoin via a custodian representing the trust. The documents designate the…
What's Your Reaction?
