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Bitcoin Suddenly Leaps To $30,000 Following Refuted IShares Spot ETF Approval Report

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Bitcoin Suddenly Leaps To ,000 Following Refuted IShares Spot ETF Approval Report

Cryptocurrency markets experienced a sudden surge in bitcoin prices following a now-debunked report on a bitcoin ETF approval by the U.S. Securities and Exchange Commission. The erroneous report initially propelled bitcoin’s value to the $30K mark. However, the momentum was short-lived as the digital currency’s price soon plummeted to around $28K, stirring volatility within the market.

The now-deleted X post prompting this reaction came from the cryptocurrency news site Cointelegraph. It claimed that BlackRock’s
BLK
iShares division, dedicated to exchange-traded funds, had secured the SEC’s approval for a pioneering bitcoin spot ETF. The news spread like wildfire, triggering the market reaction that pushed bitcoin prices to $30K within the hour.

The news quickly gained traction and was further propagated by coverage appearing in Reuters, among other outlets. This sequence of events led to a significant market reaction, prompting bitcoin’s price to briefly soar to the $30K mark.

However, official confirmations from both the SEC and Nasdaq refuted these claims. BlackRock itself issued a statement clarifying that their proposed bitcoin spot ETF was still under review by the SEC, as reported by Blockworks. As this morning’s events unfolded, it catalyzed a sharp rise in liquidations, nearing a staggering $100 million.

The Impact Of A Bitcoin Spot ETF Approval

In June, BlackRock’s iShares division, a giant in the fund management sector, submitted documents to the SEC proposing the establishment of a bitcoin spot ETF. As detailed in the submission, the proposed entity, the iShares Bitcoin Trust, plans to primarily hold bitcoin via a custodian representing the trust. The documents designate the cryptocurrency exchange Coinbase as the expected custodian.

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The approval of a bitcoin spot ETF by the SEC could significantly augment mainstream acceptance of bitcoin investing, increasing its accessibility to a broader investor base. While its status is still pending, BlackRock’s decision to file for a bitcoin spot ETF marks a critical juncture in the evolution of the cryptocurrency market. When the SEC does make its decision, it will undoubtedly have far-reaching implications for the market and could potentially shape the future of cryptocurrency investments.

The recent bitcoin price surge and subsequent fall, triggered by the now-debunked report, underscore the potential volatility in the cryptocurrency market. While the incident has highlighted the market’s sensitivity to news about ETF advancements, it also serves as a reminder of the ongoing anticipation and speculation surrounding the approval of a bitcoin spot ETF. As the SEC continues its review process, all eyes will be on this potentially game-changing development in the cryptocurrency market.

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Crypto

I Asked ChatGPT To Explain TRUMP Crypto to Me Like I’m 12: Here’s What It Said

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I Asked ChatGPT To Explain TRUMP Crypto to Me Like I’m 12: Here’s What It Said

Some people think there’s no better way to get rich quick than by risking your money on an unproven cryptocurrency. Many crypto projects boast stability and long-term returns, only to fall off a cliff shortly after launch, leaving small-time investors to pick up the pieces. However, on Jan. 18, two days before President Donald Trump was sworn in for his second term, a meme coin in his name launched, leading many to question if it was a scam.

Check Out: 13 Cheap Cryptocurrencies With the Highest Potential Upside for You

Read Next: Clever Ways To Save Money That Actually Work in 2025

I posed five questions to ChatGPT to get the breakdown on $TRUMP and whether it’s a good idea for someone to invest in it. Because crypto can be a bit complicated for some, I asked ChatGPT to explain the answers as if I were a 12-year-old. This is how it responded.

ChatGPT said, “So, TRUMP cryptocurrency is a digital coin or token, like Bitcoin or Ethereum, but it’s named after Donald Trump, the former U.S. president. It’s not actually created or run by him, though. It’s made by a group of people who think it’s fun or interesting to have a cryptocurrency with the Trump name on it. This coin exists on the internet, and you can buy or trade it just like other cryptocurrencies.”

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$TRUMP is a type of cryptocurrency known as a meme coin. Meme coins aren’t as serious as the major coins like Bitcoin, and many begin as a joke. These coins are often much more volatile, taking off or crashing in seconds.

Also, some groups like NPR dispute the fact that a group of people completely independent of President Trump created the coin, claiming he and his business partners coordinated the operation. However, after its launch, Trump and his sons publicly distanced themselves from any involvement.

Find Out: Robert Kiyosaki Is Dumping Gold and Silver: Here’s What He’s Buying Instead

ChatGPT’s response: “TRUMP cryptocurrency makes money mainly by people buying and selling it. Here’s how:

  • Imagine you buy a TRUMP coin when it’s cheap.

  • Then, you sell it later when it gets more expensive.

  • The people who create or run the coin usually make money from transaction fees (when someone buys or sells) and sometimes by selling coins themselves.

Basically, TRUMP cryptocurrency could make money for people if the price goes up, but it’s risky — prices can go up or down quickly.”

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This is an accurate breakdown of how any cryptocurrency works. However, ChatGPT doesn’t explain one of the biggest risks in investing in meme coins, which is the rug pull. This is when the coin’s developers secure a large number of coins at a low price. Once the public begins to buy coins and raises the value, the developers quickly trade their high-value assets and abandon the project, leaving the other investors with nothing.

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5 Reasons to Invest in Crypto When You’re Retired — And 5 Reasons to Avoid It

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5 Reasons to Invest in Crypto When You’re Retired — And 5 Reasons to Avoid It

As cryptocurrency continues to mature as an asset class and Bitcoin reaching new highs, more retirees are considering whether digital currencies deserve a place in their retirement portfolios. The debate over investing in crypto for retirement has intensified as inflation and cost of living depletes savings.

However, this decision involves careful consideration of both compelling opportunities and significant risks.

According to Kiplinger, some financial experts now recommend cryptocurrency for diversification in retirement accounts. Cryptocurrency often moves independently of traditional stocks and bonds, potentially providing valuable diversification during market downturns. For retirees who have most of their wealth in conventional assets, a small crypto allocation could reduce overall portfolio volatility.

With retirees particularly vulnerable to inflation’s impact on fixed incomes, cryptocurrency’s potential as an inflation hedge becomes attractive. Bitcoin’s limited supply of 21 million coins creates scarcity similar to precious metals, potentially protecting purchasing power over time. Unlike cash or bonds that lose value during inflationary periods, crypto assets may maintain or increase value as traditional currencies weaken.

Despite volatility, cryptocurrency has demonstrated remarkable long-term growth potential. Retirees focused on leaving a larger inheritance might allocate a small percentage to crypto for its upside potential. Even modest gains could significantly benefit beneficiaries, while limiting exposure prevents catastrophic losses to essential retirement funds.

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According to The Wall Street Journal, Fidelity’s decision to allow Bitcoin in 401(k) accounts highlights the tax advantages of holding cryptocurrency in retirement accounts. Crypto held in traditional IRAs or 401(k)s grows tax-deferred, allowing compounding without annual tax consequences. While eventual withdrawals face ordinary income tax rates, the ability to trade between different cryptocurrencies without immediate tax implications provides flexibility that taxable accounts don’t offer.

As governments worldwide increase money printing and debt levels, cryptocurrency offers exposure to an alternative monetary system. Retirees concerned about long-term currency stability might view crypto as insurance against potential dollar devaluation or economic instability over their retirement years.

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HMRC to Require Crypto User IDs for Tax Starting 2026 – Regulation Bitcoin News

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HMRC to Require Crypto User IDs for Tax Starting 2026 – Regulation Bitcoin News
The United Kingdom’s tax authority will implement new regulations starting January 1, 2026, requiring crypto asset users to provide tax identification numbers and other personal information to service providers. Streamlining Tax Assessments and Penalties The United Kingdom’s tax authority, His Majesty’s Revenue and Customs (HMRC), has announced new regulations that will require crypto asset users […]
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