Bitcoin Whipsawed by False Report Claiming SEC Approval of ETF

After months of declining volatility, Bitcoin traders experienced some of the wildest price swings they’ve seen in a while when a false report circulated saying that the US had approved a long-awaited exchange-traded fund.

The largest digital asset jump more than 10% to $30,000 around 9:30 a.m. in New York, only to cut the gain by more than half a few minutes later after BlackRock said that its application for an ETF that invests directly in the cryptocurrency is still under review. The intraday move was the largest since March.

WATCH: False reports about an ETF send Bitcoin prices for a ride.

Source: Bloomberg

Data from tracker Coinglass shows that more than ...