Bitcoin surges more than 8% as Coin Telegraph reports SEC approves spot ETF (fake news)

<p>Bitcoin is up 8% in a quick rally to the upside. Most of the gain has come in just the past few minutes. </p><p>There has been speculation about a bitcoin spot ETF and now Coin Telegraph <a href="https://twitter.com/Cointelegraph/status/1713908025520538079" target="_blank" rel="nofollow">reports </a>that the SEC has approved the iShares spot bitcoin ETF.</p><p>The shorter term chart shows some moderate buying earlier but it's ripped nearly $2000 in just minutes.</p><p>Offers at $30,000 capped the move initially but that's now given way but a few dollars.</p><p>Update: Be careful with this headline as Bloomberg's ETF reporter is skeptical.</p><p>Update 2: A Fox Business reporter says she spoke to Blackrock and it's not true:</p><p>I'll be curious to see how Coin Telegraph spins this. Note that we quickly flagged the possibility this headline was wrong.</p><p>Update 4: Now they've edited their tweet.</p>

This article was written by Adam Button at www.forexlive.com.