Bitcoin jumps as much as 10%, then slides after BlackRock’s ETF clarification

Bitcoin’s price briefly surged after rumors circulated that BlackRock had received approval to launch a spot-Bitcoin ETF in the US. However, the gains were quickly reversed as BlackRock clarified that the application is still under review by the SEC. Despite this, the incident highlights the excitement and hope for a spot-Bitcoin product in the US, with several industry heavyweights participating in the race for approval.