Cryptocurrencies experienced a brief surge at the beginning of the week as investors speculated on the possibility of a bitcoin ETF being approved in the near future.
On Monday morning, bitcoin saw a sudden spike above $30,000 based on an unverified report claiming that the iShares spot bitcoin ETF had received formal approval from the Securities and Exchange Commission (SEC). However, these gains were quickly erased as major media outlets were unable to confirm the report. CNBC reached out to BlackRock, who stated that the iShares Bitcoin ETP application is still under review by the SEC. Sources close to the SEC also confirmed that the report from Monday was inaccurate.
