Fake News: Bitcoin ETF Approval Debunked By Experts
A recent post from crypto news outlet Cointelegraph sparked rumors about the approval of a spot Bitcoin ETF in the US. The post claimed that asset manager BlackRock’s iShares Bitcoin ETF had been approved, causing a spike in volatility in the crypto market. However, experts from Bloomberg Intelligence quickly debunked the news, calling it “fake news.”
Both Eric Balchunas and James Seyffart from Bloomberg Intelligence stated that they could not find any confirmation of the approval and believed the news to be false. Fox News reporter Eleanor Terret confirmed with BlackRock that the report was indeed fake and that their application is still under review by the SEC.
Despite these expert statements, Cointelegraph has not deleted the post or issued a clarification. This has sparked a debate within the crypto community, with some calling for consequences for the news outlet and others questioning their sources.
Hot Take: Beware of Misinformation in the Crypto Market
This incident serves as a reminder to be cautious when consuming news in the crypto market. False information can quickly spread and have significant impacts on prices and market sentiment. It is essential to verify news from reliable sources before making any investment decisions or reacting to market events. As the crypto market continues to evolve, misinformation may become more prevalent, so staying informed and discerning is crucial.
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