Several reports emerged on Monday claiming that the United States Securities and Exchange Commission (SEC) has finally given the green light to a spot Bitcoin ETF.
Despite the ongoing uncertainty over the news, BTC price responded by immediately skyrocketing to around $30K.
Source: TradingView
While the SEC has approved several futures-based BTC ETFs, the securities watchdog has delayed and rejected every spot ETF application for about a decade now.
Hopes were raised earlier this year after the world's largest asset manager – BlackRock – applied to launch such a project.
However, the SEC delayed making a final decision on BlackRock's application, as well as several other applications.
On Monday, October 16, there was news from several sources that the Commission had finally approved a spot ETF product for US residents.
🚨 BREAKING: SEC APPROVES ISHARES BITCOIN SPOT ETF.
— Cointelegraph (@Cointelegraph) October 16, 2023
The price of the underlying cryptocurrency responded by jumping immediately. It was pumped to $28,000, but the hype surrounding the possibility of approval caused it to increase by about two thousand dollars.
Update:
BlackRock said the company's application for a spot Bitcoin ETF is still under review by the SEC after the price of the world's largest cryptocurrency spiked following social media rumors that the fund had been approved.
A BlackRock spokesperson confirmed that the iShares Bitcoin application is still under review by the regulator. The SEC has yet to approve a bitcoin spot ETF in the US.
After the correction news appeared, #BTC price dropped back to 28,101 USD at the time of writing.
https://tapchibitcoin.io/gia-btc-vot-len-30-000-do-la-khi-xuat-hien-bao-cao-sec-phe-duyet-bitcoin-etf-giao-ngay.html
