Is the Ivy Bridge CPU Backwards Compatible?

Newegg said my EVGA Z68 FTW 160-SB-E689-KR board only works with a Sandy bridge processor but I thought Intel made the Ivy Bridge backward compatible. Why cannot I purchase an Ivy Bridge process for this board?
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More about bridge backwards compatible
  1. Some Z68 boards run ivy with a BIOS update. The problem is that you need a sandy chip to perform the BIOS update if you get a BIOS version that doesn't recognize ivy.
  2. evga website said that motherboard only support sandy bridge so there.
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