BlackRock CEO Larry Fink Discusses Bitcoin ETF Rumors
BlackRock CEO Larry Fink has addressed rumors surrounding the approval of a Bitcoin ETF. In an interview with FOX News, Fink commented on the pent-up interest in cryptocurrencies, stating that clients worldwide are expressing the need for crypto. However, he did not provide any specific details regarding the application.
Rumors of SEC Approval Drive BTC Price to $30,000
On October 16, rumors spread that the US Securities and Exchange Commission (SEC) had approved a spot Bitcoin ETF. This news caused the price of BTC to surge to $30,000. Many members of the crypto community believed that the introduction of such a tool would fuel the growth of the digital asset market.
Cointelegraph Faces Backlash After Misinformation
However, BlackRock later denied these rumors, causing BTC to drop back to $28,000. Traders suffered losses amounting to $190 million due to these market movements. The incident also damaged Cointelegraph’s reputation within the crypto community.
Uncertainty Remains Regarding Bitcoin ETF Approval
The approval of a spot Bitcoin ETF by the SEC is still uncertain. The regulator has continuously delayed its consideration of applications for opening exchange-traded funds.
Hot Take: False Bitcoin ETF Approval Rumors Cause Market Volatility
The recent rumors surrounding the approval of a Bitcoin ETF by the SEC led to significant market volatility. While BlackRock CEO Larry Fink acknowledged the interest in cryptocurrencies, no specific details were provided regarding the application. The false information caused traders to lose $190 million and raised questions about Cointelegraph’s credibility. The incident highlights the importance of accurate reporting and the potential impact of rumors on the crypto market. As the SEC continues to delay its decision on Bitcoin ETFs, uncertainty remains regarding their approval and the potential consequences for the digital asset market.
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