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Fake News: Bitcoin spot ETF Approval Debunked by Experts 17/10

Posted on by Anna

A post from crypto news outlet Cointelegraph spread rumors about the approval of a Bitcoin spot ETF (Exchange Traded Fund) in the US

Bitcoin spot ETF Approval Debunked by Experts

As seen in the image below, the crypto news outlet posted about the alleged approval of the iShares Bitcoin ETF filed by asset manager BlackRock.

The post had half a million views as of this writing and caused a spike in volatility in the cryptocurrency market a few minutes after it went live.

bitcoin-etf-approval-debunked-by-experts

As Cointelegraph posted about the BTC ETF, the price of the cryptocurrency hit $30,000 for the first time in months.

However, experts from Bloomberg Intelligence, Eric Balchunas and James Seyffart, stated that the news lacks legitimacy. Experts debunked the report through their official X accounts, going so far as to call it “fake news”. Minutes after the news was released, Seyffart stated:

“I believe this is fake news. Although this will be positive for what we have said. I can’t find anything that would confirm this at the moment”

On the other hand, Balchunas expects the coming months to see more “fake reports” surrounding the approval of a spot Bitcoin ETF:

“Although I hope to wake up one day in the next few months to a similar headline. like this, but this seems a bit ahead of schedule. Trying to confirm the source now. Stay tuned.. On the one hand, crypto exchanges have a solid representation of big news, on the other hand they also have a representation that takes words and rearranges them in a more interesting but inaccurate way”

Although Balchunas and Seyffart, Cointelegraph has yet to remove the post or provide an explanation. As of this writing, the post has over 2 million views and sparked a debate within the crypto community.

The Other News

Market increased again at the beginning of the week, Bitcoin touched $30K after fake news about Bitcoin ETF and today is the day to claim Celestia $TIA airdrop!

  • $BNB – Binance completed its 25th quarterly BNB burn, with a total of 2.139 million BNB worth approximately $435M burned.
  • $EOS – EVM version v0.6.0 officially mainnet, and launched EOSIO-Taurus, the blockchain generation that expands enterprise-level performance. Systematically developed and rigorously tested by Bullish with functionality and adaptability at the forefront.
  • $ZTX – ZTX token has officially launched and the airdrop has been completed, is someone boasting about $130K airdrop? → The Korean shovel game trend I mentioned in the article about the characteristics of Korean crypto!

 

  • $UNI – Uniswap has shared the open source Uniswap v4 hook directory which contains the KYC (Opt-in) function for v4. The KYC process in v4 is done via NFT, this feature is exclusive to LPers.
  • $KLAY – Shanghai EVM compatible Hardfork on Cypress Mainnet
  • $ACA – Acala launches staking feature for platform tokens.
  • Tether has frozen $835M worth of assets from 32 addresses related to terrorism and war in Israel and Ukraine. At the same time Euro Tether (EUR₮) will launch on the Toobit platform.
  • Binance will stop accepting new users in the UK and will no longer offer any new products and services to existing users in the UK
  • Kraken launches a major Marketing campaign in the US and UK focusing on the nature of cryptocurrency
  • Lido stops supporting SOL staking on this platform.

 

  • Orbiter Finance posted a photo hinting at something, hopefully the airdrop will be released soon

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