Bitcoin gives up gains after BlackRock denies ETF approval report

FILE PHOTO: Bitcoin logo, representation of cryptocurrencies and rising stock graph are seen in this illustration taken, July 7, 2022. REUTERS/Dado Ruvic/Illustrations/File Photo

LONDON/WASHINGTON (Reuters) -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, known for its volatility, was last trading up 3.82% at $28,211, after earlier rising as much as 10% to $29,900, its highest since August.