Bitcoin is up 8% in a quick rally to the upside. Most of the gain has come in just the past few minutes.

There has been speculation about a bitcoin spot ETF and now Coin Telegraph reports that the SEC has approved the iShares spot bitcoin ETF.

Bitcoin daily
Bitcoin daily

The shorter term chart shows some moderate buying earlier but it's ripped nearly $2000 in just minutes.

bitcoin 10m

Offers at $30,000 capped the move initially but that's now given way but a few dollars.

Update: Be careful with this headline as Bloomberg's ETF reporter is skeptical.

Bitcoin ETF

Update 2: A Fox Business reporter says she spoke to Blackrock and it's not true:


I'll be curious to see how Coin Telegraph spins this. Note that we quickly flagged the possibility this headline was wrong.


Update 4: Now they've edited their tweet.

Cointelegraph reportedly
This isn't a good look for Elon's edit button