ETF excitement in Bitcoin
Bitcoin, which climbed above 30 thousand dollars on speculation of an ETF approval, gave back its gains of up to 10 percent after BlackRock announced that its ETF application is still under review by the SEC.
Bitcoin rose more than 10 percent to exceed 30 thousand dollars following speculation that the US capital markets regulator, the SEC, had approved an exchange-traded fund (ETF) that invests directly in the cryptocurrency.
In June, the world's largest asset management company, BlackRock, had applied to the SEC for its subsidiary, iShares Bitcoin Trust, to launch a spot Bitcoin ETF. According to the application filed with the SEC, the largest US crypto exchange, Coinbase, will be the custodian for the funds. If the ETF receives approval, it will be traded on the Nasdaq.
Following the reports, BlackRock issued a statement saying that the ETF application is still being reviewed by the SEC.
Bitcoin reversed its gains of up to 10 percent after BlackRock announced that its application for an exchange-traded fund that invests directly in the cryptocurrency is still under review.
News Source: 12punto
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