BlackRock says application for spot bitcoin ETF is still under review by SEC despite rumors on social media

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By BitcoinWiki News

Key Takeaways:

– BlackRock’s application for a bitcoin ETF is still under review by the SEC.
– The SEC has not yet approved a spot bitcoin ETF in the U.S.
– Reports suggesting the approval of the BlackRock bitcoin ETF are not true.
– The SEC is conducting additional proceedings to determine the approval or disapproval of proposed spot bitcoin ETFs.
– Bitcoin surged to $30,000 following the false reports but has since declined to $28,003.
– The SEC’s decision not to appeal the Grayscale case does not guarantee the approval of a bitcoin ETF.
– Approval of the first spot bitcoin ETF still requires further steps.
– The article was published by The Block for informational purposes only.


BlackRock’s application for a spot bitcoin ETF is still under review by the Securities and Exchange Commission (SEC), despite rumors on social media that the fund had been approved. The SEC has not yet approved a spot bitcoin ETF in the U.S. Sources close to the SEC confirmed that the reports of approval were not true. The SEC recently announced additional proceedings to determine the approval or disapproval of proposed spot bitcoin ETFs from BlackRock and other major companies. Bitcoin’s price initially surged after the rumors of approval but has since declined. The rumors followed the SEC’s decision not to appeal a court ruling that ordered it to reconsider Grayscale Investments’ bid to convert its GBTC fund into a spot bitcoin ETF. While the industry is eagerly awaiting the approval of a spot bitcoin ETF, the SEC’s decision not to appeal the Grayscale case does not necessarily indicate approval for other funds.

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