BlackRock CEO Remains Tight-Lipped on Bitcoin ETF Application Despite Rally on False Approval

BlackRock CEO Larry Fink commented on the firm's pending Bitcoin ETF application, but declined to share specifics. He noted pent-up interest in crypto among clients.

Bitcoin rallied nearly 10% on the erroneous report of BlackRock's ETF being approved, before settling back down. Fink said the rally was also due to a "flight to quality" amid global unrest.

Fox Business was first to report the initial story on BlackRock's ETF approval was inaccurate. BlackRock filed for a Bitcoin spot ETF in June.

BlackRock aims to make crypto more accessible and affordable through an ETF. Its application is among many for Bitcoin ETFs rejected by the SEC so far.

Other ETFs offer indirect exposure to Bitcoin through investing in the crypto industry, like Bitwise's fund and ProShares' fund.