Companies • October 16, 2023, 10:00AM EDT
Published 1 minute earlier on
Quick Take
- BlackRock told The Block that its application for a spot bitcoin ETF was still under review by the Securities and Exchange Commission.
- The price of the world’s largest crypto currency surged after rumors on social media that the fund had been approved.
BlackRock said Monday that its application for a spot bitcoin ETF was still under review by the Securities and Exchange Commission as the price of the world's largest crypto currency surged after rumors on social media that the fund had been approved. A BlackRock spokesperson confirmed with The Block that the iShares Bitcoin application is still under review by the regulator. The SEC has not yet approved of a spot bitcoin ETF in the U.S. Bitcoin had surged toward $30,000 immediately after posts on X suggested the fund had been approved early Monday morning in the U.S. It's since declined and is currently trading at $28,101, according to CoinGecko. The SEC did not immediately respond to a request for comment from The Block. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.