{"id":555732,"date":"2023-10-17T13:00:59","date_gmt":"2023-10-17T13:00:59","guid":{"rendered":"https:\/\/wncen.com\/?p=555732"},"modified":"2024-06-11T08:10:28","modified_gmt":"2024-06-11T08:10:28","slug":"blackrock-false-bitcoin-spot-etf","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/blackrock-false-bitcoin-spot-etf\/","title":{"rendered":"BlackRock Reacts To False Bitcoin Spot ETF Approval News In A Positive Way"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinist.com\/tick-tock-on-bitcoin-etf-3-6-months-until-approval\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Investment management firm <\/span><\/a><span style=\"font-weight: 400\">Blackrock<\/span><span style=\"font-weight: 400\"> has reacted to rumors about the approval of its Bitcoin Spot ETF application by the United States Securities and Exchange Commission (SEC) which caused quite a stir among the cryptocurrency community.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Blackrock CEO Responds To Claims On Bitcoin Spot ETF<\/span><\/h2>\n<p><span style=\"font-weight: 400\">On Monday, crypto news outlet CoinTelegraph posted on X (formerly Twitter) that the US Security and Exchange Commission (SEC) had approved a long-anticipated <\/span><a href=\"https:\/\/bitcoinist.com\/sec-delays-bitcoin-spot-etfs-blackrock\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">application of Bitcoin Spot ETF<\/span><\/a><span style=\"font-weight: 400\">, but later <\/span><a href=\"https:\/\/twitter.com\/Cointelegraph\/status\/20538079\" rel=\"nofollow\"><span style=\"font-weight: 400\">retracted the report<\/span><\/a><span style=\"font-weight: 400\">. However, the post sparked excitement within the crypto community causing the Bitcoin price to rise rapidly.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bloomberg-spot-bitcoin-etf\/\">Bloomberg Analyst Predicts Likelihood Of A Spot Bitcoin ETF By January 2024<\/a><\/div>\n<p><span style=\"font-weight: 400\">The cryptocurrency&#8217;s price surged to almost $30,000 earlier in the day after the alleged post was made by Cointelegraph yesterday. However, the cryptocurrency&#8217;s price fell almost immediately after the report was proven to be false by <\/span><a href=\"https:\/\/wncen.com\/bitcoin-news\/blackrock-larry-fink-best-thing-to-happen-to-bitcoin\/\"><span style=\"font-weight: 400\">Blackrock&#8217;s Chief Executive Officer Larry Fink<\/span><\/a><span style=\"font-weight: 400\"> and other prominent voices in the crypto community.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Eleanor Terrett was the first to <\/span><a href=\"https:\/\/twitter.com\/EleanorTerrett\/status\/72809602?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E72809602%7Ctwgr%5E0380aec58dd2701ee57ed8489337a247cfd43d49%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.reuters.com%2Ftechnology%2Fbitcoin-jumps-much-10-track-best-day-since-august-2023-10-16%2F\" rel=\"nofollow\"><span style=\"font-weight: 400\">report<\/span><\/a><span style=\"font-weight: 400\"> that this news was false after speaking with BlackRock and that the company&#8217;s Bitcoin Spot ETF is still under review by the US regulator.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/zG5MKQRn\/\" alt=\"Bitcoin price chart from Tradingview.com (BlackRock CEO Larry Fink)\" width=\"2804\" height=\"1746\"><\/p>\n<pre style=\"text-align: center\">BTC spikes following fake Spot BTC ETF approval news | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTUCSD on Tradingview.com<\/a><\/pre>\n<p><span style=\"font-weight: 400\">In an <\/span><a href=\"https:\/\/www.youtube.com\/watch?v=bIoXk3FHqus\" rel=\"nofollow\"><span style=\"font-weight: 400\">interview<\/span><\/a><span style=\"font-weight: 400\"> with Fox Business, Fink, who said he only learned about the \u2018news\u2019 hours later due to him being extremely busy all day, took a rather positive stance on the event. According to the CEO, noting that Monday&#8217;s event solely proved the worldwide need and desire for a <\/span><a href=\"https:\/\/bitcoinist.com\/congress-tells-sec-chair-approve-bitcoin-etfs-now\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Bitcoin spot ETF<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">&#8220;I think the rally today is about a flight to quality, with all the issues around the Israeli war now, global terrorism,\u201d Fink said. \u201cI think there are more people running into a flight to quality, whether that is in Treasuries, gold, or crypto, depending on how you think of it. And I believe crypto will play that type of role, as a flight to quality.\u201d<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-whale-addresses-30000\/\">Bitcoin Whale Addresses See Unprecedented Jump, Is $30,000 Possible?<\/a><\/div>\n<p><span style=\"font-weight: 400\">The SEC also confirmed that the alleged news report was false and that the application is still pending. &#8220;Careful what you read on the internet. The best source of information about the SEC is the SEC.&#8221; the <\/span><a href=\"https:\/\/twitter.com\/SECGov\/status\/09982771\" rel=\"nofollow\"><span style=\"font-weight: 400\">post<\/span><\/a><span style=\"font-weight: 400\"> read.<\/span><\/p>\n<p><span style=\"font-weight: 400\">So far, CoinTelegrah has <\/span><a href=\"https:\/\/twitter.com\/Cointelegraph\/status\/69017792?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E69017792%7Ctwgr%5E0380aec58dd2701ee57ed8489337a247cfd43d49%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.reuters.com%2Ftechnology%2Fbitcoin-jumps-much-10-track-best-day-since-august-2023-10-16%2F\" rel=\"nofollow\"><span style=\"font-weight: 400\">apologized<\/span><\/a><span style=\"font-weight: 400\"> with a post on X for the false report it posted &#8220;which led to the dissemination of inaccurate information.&#8221; The crypto media outlet later <a href=\"https:\/\/bitcoinist.com\/cointelegraph-100-million-bitcoin\/\" rel=\"nofollow\">posted<\/a> the result of its internal investigation which showed a team member had posted the \u2018news\u2019 without getting approval from its editorial team.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Crypto tracker, Coinglass revealed that short trading positions held by investors betting on lower prices were liquidated to the tune of over $104 million within 24 hours due to the false news.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Shutterstock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Investment management firm Blackrock has reacted to rumors about the approval of its Bitcoin Spot ETF application by the United States Securities and Exchange Commission (SEC) which caused quite a stir among the cryptocurrency community. Blackrock CEO Responds To Claims On Bitcoin Spot ETF On Monday, crypto news outlet CoinTelegraph posted on X (formerly Twitter) that the US Security and Exchange Commission (SEC) had approved a long-anticipated application of Bitcoin Spot ETF, but later retracted the report. However, the post sparked excitement within the crypto community causing the Bitcoin price to rise rapidly. Related Reading: Bloomberg Analyst Predicts Likelihood Of A Spot Bitcoin ETF By January 2024 The cryptocurrency&#8217;s price surged to almost $30,000 earlier in the day after the alleged post was made by Cointelegraph yesterday. However, the cryptocurrency&#8217;s price fell almost immediately after the report was proven to be false by Blackrock&#8217;s Chief Executive Officer Larry Fink and other prominent voices in the crypto community. Eleanor Terrett was the first to report that this news was false after speaking with BlackRock and that the company&#8217;s Bitcoin Spot ETF is still under review by the US regulator.\u00a0 BTC spikes following fake Spot BTC ETF approval news | Source: BTUCSD on Tradingview.com In an interview with Fox Business, Fink, who said he only learned about the \u2018news\u2019 hours later due to him being extremely busy all day, took a rather positive stance on the event. According to the CEO, noting that Monday&#8217;s event solely proved the worldwide need and desire for a Bitcoin spot ETF. &#8220;I think the rally today is about a flight to quality, with all the issues around the Israeli war now, global terrorism,\u201d Fink said. \u201cI think there are more people running into a flight to quality, whether that is in Treasuries, gold, or crypto, depending on how you think of it. And I believe crypto will play that type of role, as a flight to quality.\u201d Related Reading: Bitcoin Whale Addresses See Unprecedented Jump, Is $30,000 Possible? The SEC also confirmed that the alleged news report was false and that the application is still pending. &#8220;Careful what you read on the internet. The best source of information about the SEC is the SEC.&#8221; the post read. So far, CoinTelegrah has apologized with a post on X for the false report it posted &#8220;which led to the dissemination of inaccurate information.&#8221; The crypto media outlet later posted the result of its internal investigation which showed a team member had posted the \u2018news\u2019 without getting approval from its editorial team. Crypto tracker, Coinglass revealed that short trading positions held by investors betting on lower prices were liquidated to the tune of over $104 million within 24 hours due to the false news. Featured image from Shutterstock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":555741,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,86326,7720,89670,89215,1119,1144,78790,84647],"class_list":["post-555732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-spot-etf","tag-blackrock","tag-blackrock-bitcoin","tag-blackrock-news","tag-btc","tag-btcusd","tag-btcusdt","tag-spot-bitcoin-etf"],"acf":[],"yoast_head":"\n<title>BlackRock Reacts To False Bitcoin Spot ETF Approval News In A Positive Way<\/title>\n<meta name=\"description\" content=\"Blackrock has reacted to rumors about the approval of its Bitcoin Spot ETF application by the US Securities and Exchange Commission (SEC).\" 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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