14 Nov 2023

XRP ETF not planned by Blackrock - Fake Trust Registration

In a recent turn of events, an erroneous report surfaced on Monday, November 13, 2023, suggesting that BlackRock, the investment giant, had initiated the registration process for an iShares XRP Trust. This report, however, was swiftly debunked by a representative from BlackRock, clarifying that the supposed trust registration was a counterfeit and bore no association with the company. At Crypto Briefing, our commitment to delivering precise and dependable information to our audience is unwavering. We deeply regret the mistake and the subsequent misunderstanding it caused. The article has since been revised to ensure it aligns with the factual scenario as of November 13, 2023.

The origin of the confusion was a falsified filing that mimicked BlackRock's registration of an iShares XRP Trust. This led to a brief period of speculation that the investment firm was on the verge of applying for a spot XRP exchange-traded fund (ETF). However, this was quickly dispelled by a BlackRock spokesperson, who confirmed that the firm had no ties to the dubious filing.

As it stands, BlackRock has not indicated any intentions to pursue a spot XRP ETF with the U.S. Securities and Exchange Commission. The earlier assertion that BlackRock had registered an iShares XRP Trust with the Department of State in Delaware has been identified as a fabrication.

This fake registration had a momentary impact on the cryptocurrency market. It was first identified by Twitter users and resulted in a more than 10% surge in the price of XRP. Nevertheless, once the falsity of the claim came to light, XRP's value fell back to its pre-spike level, hovering around 65 cents per token, as noted by CoinGecko.

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