The “BlackRock iShares XRP Trust” filing, which triggered an approximate 15% surge in XRP’s value within just half an hour on Monday, turned out to be a fake. BlackRock representatives have allegedly stated the filing in question is false, according to @Bloomberg ETF analyst Eric Balchunas.
“Someone did indeed submit the corporate registration in Delaware — but it wasn’t BlackRock,” — a company spokesperson confirmed to Decrypt.
The false filing on Delaware’s Division of Corporations website mirrored BlackRock’s legitimate Ethereum ETF registration from last week — the fake XRP trust filing used identical address and contact details. It’s not currently clear who submitted that.
BlackRock is a Wall Street behemoth with $9 trillion in assets under management, so anticipations with its ETFs lead to notable price movements in the market. Meanwhile, some experts, like BitMEX’s Arthur Hayes, view the entry of players of that scale into the crypto market as a potential major threat to the industry.
According to Bloomberg Intelligence analyst James Seyffart,
“This isn’t the best look for the crypto industry and definitely hurts the credibility of the good actors in the space.”
Nevertheless, XRP seems to remain popular among many investors and enthusiasts. According to recent data from Google Trends, Americans are more interested in XRP than even Ethereum.
(Source: Google Trends)
Ripple recently unveiled some product enhancements and license updates, partnering with a global payment provider and expanding its remittance services across several regions. Moreover, it has formed partnerships with state-level institutions in Dubai and Georgia.
There are also signs Ripple is preparing an IPO, though some experts consider these IPO talks premature.
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