Asset management firm BlackRock has confirmed that its Bitcoin spot ETF filing is still under review by the US Securities and Exchange Commission (SEC).
BlackRock's above announcement came after many rumors said that BlackRock's Bitcoin spot ETF had been approved by the SEC.
News appeared on Cointelegraph the cryptocurrency news site said that iShares' Bitcoin spot ETF has been approved. Immediately, the BTC price spiked nearly 10%.
BlackRock is one of many financial institutions looking to bring the first Bitcoin ETF to the United States. However, a report from Bloomberg's Eric Balchunas confirmed that there is no possibility of the SEC approving a Bitcoin ETF at this time and the above news is just a rumor.
After being confirmed as "fake news", BTC price immediately returned to its previous position, even decreasing a bit compared to the original before the rumor broke out.
BlackRock's Bitcoin ETF application is still under review
One of the top stories in crypto this year was the quest to gain approval for a Bitcoin spot ETF in the United States. Over the past few months, the number of applications for a Bitcoin ETF license has flooded the SEC's office, with applications sent from many large organizations.
BlackRock said its application to operate a Bitcoin ETF is still under review by the SEC. This organization believes that 100% of their Bitcoin ETF will be approved.
Bloomberg's Erich Balchunas later asserted that the approval of the application was incorrect. Furthermore, he noted that BlackRock “ Everything is being evaluated. Still, there is optimism that approval will come sooner. However, that approval has not yet come today.”
