BlackRock has denied reports that its Bitcoin ETF has gained approval.
Expectations that the Securities and Exchange Commission (SEC) will grudgingly approve an exchange-traded product for a spot Bitcoin fund have helped to drive prices higher of BTC in recent days.
Initial reports of an approval turned out to be false, with Cointelegraph issuing an apology for erroneous reports, stating an internal investigation was underway.
“We apologize for a tweet that led to the dissemination of inaccurate information regarding the Blackrock Bitcoin ETF. An internal investigation is currently underway. We are committed to transparency and will share the findings of the investigation with the public once it is concluded within 3 hours.”
Recently, it became apparent that the SEC would not appeal a court decision regarding Grayscale’s pursuit of a Bitcoin ETF, which has encouraged Bitcoin bulls.
While BlackRock said there is no approval yet, it has been reported that BlackRock CEO Larry Fink is optimistic about the crypto sector with Fox Business Xing, Fink’s comments:
“I was busy all day, I only heard it an hour ago. It’s an example of the pent up interest in crypto. We’re hearing from clients around the world about the need for crypto. Crypto will play the role of ‘flight to quality.’”
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