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. Bitcoin was last trading up 3.82% at $28,211, after earlier rising as much as 10% to $29,900. Crypto news outlet CoinTelegraph had earlier reported that the U.S. SEC had approved an application by major asset manager BlackRock for a spot bitcoin exchange-traded fund, before later retracting the story. BlackRock later confirmed to Reuters that "the iShares Bitcoin ETP application is still under review by the SEC." In a post on X, CoinTelegraph apologized for its earlier post.
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