The world perhaps didn’t anticipate yet another demonstration of the unpredictability of cryptocurrency, but it was presented with one on Monday. In a matter of minutes, the price of bitcoin surged by around 10% to nearly $30,000, all due to a fake news report, as reported by Insider. However, the gains were quickly lost when the truth emerged. It appears that CoinTelegraph mistakenly tweeted that the US Securities and Exchange Commission (SEC) granted approval to asset manager BlackRock for the creation of the first-ever spot bitcoin exchange-traded fund (ETF), according to MarketWatch.
Cointelegraph later tweeted their apology for spreading inaccurate information about the BlackRock Bitcoin ETF. They stated, “An internal investigation is currently underway.” A spokesperson from BlackRock confirmed that the ETF request is still under review by the SEC. Quartz explains that if approved, it would be a significant milestone for the crypto industry in terms of mainstream acceptance and that it may only be a matter of time. An analyst from Bloomberg even predicts that the first bitcoin ETF will be available for trading by early January. As of Tuesday morning, bitcoin was trading slightly above $28,000. (Read more bitcoin stories.)
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