The approval of BlackRock's spot bitcoin ETF by the SEC remains pending, with recent clarifications quashing social media rumors of approval.
BlackRock Clarifies Status: ❌
BlackRock confirmed to The Block that the SEC is still reviewing its application, dispelling rumors that had driven Bitcoin's price up.
Market Reaction to Rumors: 💹
Reacting to the rumors, Bitcoin's price surged towards $30,000, but retreated to $28,101 after BlackRock's clarification, according to CoinGecko.
Awaiting SEC's Nod: 🕰️
The SEC has yet to approve a spot bitcoin ETF in the U.S., with BlackRock's application still under review, keeping investors on edge.
The saga underscores the market's sensitivity to regulatory decisions, with reliable information being crucial to navigate the crypto landscape.