Bitcoin (CRYPTO: BTC/USD), the ace cryptocurrency, spiked on unverified reports of the approval of an iShares Bitcoin ETF.

BlackRock said the information is false, according to Fox Business journalist Eleanor Terrett. 

The company's Bitcoin ETF application is still under review, BlackRock, which owns iShares, told Fox.

Benzinga has reached out to BlackRock for comments.

Bitcoin had spiked by as much as 9.5% after the report but gave back gains. It is up 3.3% at $28,062 at the time of publication.