The US Securities and Exchange Commission (SEC) has fined BlackRock, the world’s largest fund manager, $2.5 million for allegedly providing inaccurate information about an investment in a film company. The charges come as the SEC is reviewing BlackRock’s application for a Bitcoin exchange-traded fund (ETF), which would be the first of its kind in the US. BlackRock settled the charges without admitting or denying the allegations. In the past, the SEC has denied every Bitcoin ETF application, but analysts believe BlackRock’s involvement may change that.
AI Sentiment: Negative