Bitcoin Surges on Fake Blackrock ETF Approval News: Misinformation Ripples Through Crypto Markets.

BCH $230.08 +1.47%

DOT $3.68 -1.37%

DOGE $0.06 -0.44%

DASH $25.20 -1.76%

ATOM $6.45 -1.66%

BTC $28724.79 +2.00%

SOL $24.20 +1.30%

UNI $3.89 -4.65%

AVAX $9.18 -1.18%

BNB $213.48 +0.28%

XRP $0.49 -0.19%

ETH $1574.95 -0.69%

LINK $7.40 -0.76%

ZEC $24.89 -2.08%

LTC $62.52 -0.82%

TRX $0.09 +0.04%

XMR $152.49 +0.58%

ADA $0.25 -1.25%

MATIC $0.52 -1.16%

BCH $230.08 +1.47%

DOT $3.68 -1.37%

DOGE $0.06 -0.44%

DASH $25.20 -1.76%

ATOM $6.45 -1.66%

BTC $28724.79 +2.00%

SOL $24.20 +1.30%

UNI $3.89 -4.65%

AVAX $9.18 -1.18%

BNB $213.48 +0.28%

XRP $0.49 -0.19%

ETH $1574.95 -0.69%

LINK $7.40 -0.76%

ZEC $24.89 -2.08%

LTC $62.52 -0.82%

TRX $0.09 +0.04%

XMR $152.49 +0.58%

ADA $0.25 -1.25%

On a bustling Monday, the cryptocurrency-focused news platform Cointelegraph broadcasted that the U.S. Securities and Exchange Commission (SEC) had given the green light to Blackrock’s Ishares spot bitcoin exchange-traded fund (ETF). The unverified news spread like wildfire, and in its wake, the value of BTC soared over 10% against the U.S. dollar, without any official confirmation from either the SEC or Blackrock.

Unverified Blackrock ETF News Sends Bitcoin Skyrocketing; Cointelegraph Faces Backlash

In the unpredictable universe of cryptocurrencies, a piece of fabricated news sent the market into a significant upswing. The false report claimed that Blackrock’s spot bitcoin ETF received approval, which led to Bitcoin’s price rocketing from $27,700 per coin to a hefty $29,900 following Cointelegraph’s viral social media post on X.

Blackrock reiterated the falsehood of the news to The Block, highlighting that the ETF application was still pending approval from the securities regulator. Bloomberg ETF expert James Seyffart labeled Cointelegraph’s shared social media post as “fake news,” noting his inability to find any validating information.