A brief 10% surge in Bitcoin gave traders a glimpse into the possible impact of a looming US Securities & Exchange Commission decision on whether to allow exchange-traded funds that invest directly in the cryptocurrency.
An erroneous report that BlackRock Inc. had won approval to launch a spot ETF rapidly sent the largest digital asset to $30,002 on Monday, the highest price since August. The move cooled after the world’s biggest money manager said its application remains under review, leaving Bitcoin 4.4% higher for Oct. 16. It was little changed at around $28,400 on Tuesday in New York.
Source: Bitcoin (BTC) 10% Jump to $30,000 Hints at Playbook for Spot ETFs – Bloomberg
