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XRP Price Pumps and Dumps on Fake BlackRock Filing: Details

The price of XRP soared from $0.65 to $0.73 on Monday following news that asset management giant BlackRock had registered the iShares XRP Trust in Delaware.

However, later reports confirmed that the supposed registration was fake news, taking XRP’s price back down to $0.65.

  • According to the state of Delaware’s website, there is an entity registered under file number 2619091 going by the name of “iShares XRP Trust.”
  • While the filing appears to be under the name of a BlackRock executive using BlackRock’s address, Bloomberg ETF analyst Eric Balchunas confirmed that BlackRock hadn’t actually filed any such registration.
  • “This is false! Confirmed by BlackRock by me,” Balchunas posted to X on Monday. Some whacko must have added using the BlackRock executive name, etc.”

  • The development may have indicated that BlackRock would soon file for an XRP-based ETF with the Securities and Exchange Commission (SEC).
  • Last week, the asset manager registered the iShares Ethereum Trust in Delaware shortly before NASDAQ filed for a spot Ethereum ETF listing on its behalf. The price of Ether (ETH) soared above $2,000 in response.
  • The SEC is yet to approve any spot crypto ETFs, though some analysts suspect a slew of spot Bitcoin ETF may be approved by the end of the week.
    XRP / USD. Source: TradingView
    XRP / USD. Source: TradingView

The post XRP Price Pumps and Dumps on Fake BlackRock Filing: Details appeared first on CryptoPotato.

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