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LONDON, Oct 16 - Bitcoin rose suddenly on Monday, before giving up nearly all its gains, after asset manager BlackRock denied a crypto media report that U.S. regulators had approved its high-profile application for a crypto investment product.
Crypto news outlet Coin Telegraph had earlier reported that the U.S. Securities and Exchange Commission had approved an application by major asset manager BlackRock for a spot bitcoin exchange-traded fund. BlackRock later confirmed to Reuters that:"The iShares Bitcoin ETP application is still under review by the SEC."Crypto markets have been awaiting news on the BlackRock application, which, if approved, is widely seen as driving investment in the sector.
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