The cryptocurrency community is happy for nothing! BlackRock denies the rumor: the US SEC has not approved its Bitcoin ETF

Before the opening of the U.S. stock market on Monday (October 16), cryptocurrencies suddenly soared, with Bitcoin rising from less than $28,000 per coin to $30,000, with the highest intraday increase of more than 10%, and then quickly falling back to around $28,000.

In addition to Bitcoin, blockchain concept stocks in the U.S. stock market also strengthened in the early trading. Coinbase once rose by nearly 8%, while Riot Platforms and Marathon Digital rose by more than double digits.

It is understood that the surge in cryptocurrency-related assets started with an unconfirmed report. Earlier in the day, the US "Cointelegraph" website focusing on encryption information announced on social media that the US Securities and Exchange Commission (SEC) has officially approved the "iShares spot bitcoin ETF".

iShares is an ETF brand under the internationally renowned asset management company BlackRock. Market analysts said that investors have been waiting for news on BlackRock's ETF application, and if it is approved by the SEC, it is expected to boost investment in the industry.

However, the report soon reversed. BlackRock said through multiple media outlets that the listing application for the Bitcoin spot ETF is still under review by the SEC. Sources close to the SEC told the media that Monday's report was inaccurate. Cointelegraph also deleted the post on social media and expressed its apology.

Cointelegraph wrote, “We apologize for a tweet that spread inaccurate information about the BlackRock Bitcoin ETF. An internal investigation is currently underway. We are committed to transparency and once the investigation is complete, we will share the results with the public within 3 hours.”

Following Cointelegraph's apology, blockchain stocks quickly fell back, and Bitcoin also returned to around $28,000. Analysts believe that in addition to the regulatory uncertainty of the SEC, cryptocurrencies have also been plagued by low trading volume and liquidity, which is why Bitcoin has not been able to stay above $30,000 for a long time.