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Erroneous Reports of Approved Bitcoin ETF Cause $100 Million Worth of Liquidations

Erroneous reports of an approved spot Bitcoin ETF caused the liquidation of nearly $100 million worth of positions in just an hour. Cointelegraph reported that the Securities and Exchange Commission (SEC) had approved an iShares spot Bitcoin ETF managed by BlackRock, but the article was later deleted. Confirmation from Fox News Journalist Eleanor Terrett, Bloomberg analyst James Seyffart, and CoinDesk, all say the BlackRock spot Bitcoin ETF is not approved and is still under review. Bitcoin surged from $27,900 to $30,000 after the initial report before falling back to around $27,900 following the correction.

Bitcoin Bitcoin $95,514.45
-0.65%
Bitcoin ETF
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