Bitcoin Prices Soar After News Appears of BlackRock's Bitcoin ETF Proposal Being Approved by SEC, But…

JAKARTA - There is news stating that the Bitcoin ETF proposed by BlackRock has received the green light from US regulators. This rumor has created huge waves in the crypto market.

The false report claimed that Blackrock's spot Bitcoin ETF had received approval, triggering a surge in Bitcoin prices from 27,700 US dollars (Rp. 435 million) per coin to 29,900 US dollars (IDR 469 million) after the post went viral on social media by Cointelegraph.

However, this claim turned out to be untrue. Blackrock, a leading investment firm, denied the report as "fake news". They clarified that their ETF application is still undergoing scrutiny by securities regulators.

James Seyffart, an ETF expert from Bloomberg, also pointed out that the social media posts shared by Cointelegraph were “fake news” as there was no evidence to support the claims.

Aware of this controversy, Cointelegraph immediately deleted the misleading social media post and corrected its statement. They apologized for spreading inaccurate information and are currently conducting an internal investigation to understand what really happened.

As a result of this fake news, the price of Bitcoin soared to nearly 30 thousand US dollars or around IDR 471 million, but fell again after the truth was revealed. Currently, the price has fallen below  28 thousand US dollars (IDR 439 million) per coin. BTC prices experienced an increase of 4.4% in the last 24 hours as reported by data from Coingecko.