Crypto demand evident amid ETF fake news, BlackRock CEO says

BlackRock CEO Larry Fink commented on the pending consideration of the application for a Bitcoin ETF after rumors about its approval.

In a conversation with FOX News, he commented on rumors about the approval of the application after the corresponding publication by Cointelegraph.

“I can’t talk about the specifics of anything, I think it’s just an example of the pent-up interest in crypto. We are hearing from clients around the world about the need for crypto.”

Larry Fink, Blackrock CEO

On Oct. 16, rumors that the US Securities and Exchange Commission (SEC) had given the green light to a spot Bitcoin ETF pushed the price of BTC to $30,000.

Many crypto community members believed that the launch of the tool could support the growth of the digital asset market. Therefore, the Cointelegraph news quickly spread across the network and provoked a rise in Bitcoin (BTC) to $30,000.

However, after BlackRock denied this information, the main cryptocurrency returned to $28,000.

Even though the news was quickly exposed, traders lost $190 million on market movements. In addition, according to members of the crypto community, the incident put an end to Cointelegraph’s reputation.

It is still unclear when the SEC will approve a spot Bitcoin ETF. The regulator has repeatedly delayed the consideration of applications for opening exchange-traded funds.