CORRECTION: SEC Has Not Approved iShares Bitcoin Spot ETF; Their Application Is Still Under Review According To Fox Business Reporter
Portfolio Pulse from Benzinga Newsdesk
The U.S. Securities and Exchange Commission (SEC) has not approved the iShares Bitcoin Spot ETF as previously reported. The application is still under review, according to Fox Business Reporter.
October 16, 2023 | 1:53 pm
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NEGATIVE IMPACT
The SEC has not approved the iShares Bitcoin Spot ETF. This could potentially delay the introduction of the ETF, impacting the price of Bitcoin.
The approval of a Bitcoin ETF by the SEC would likely increase the accessibility and liquidity of Bitcoin, potentially driving up its price. The news that the ETF has not been approved could therefore have a negative impact on Bitcoin's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100