After A False BlackRock Trust Filing, XRP Surges And Then Drops

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After it was determined that a BlackRock file claiming the asset management was developing an exchange-traded vehicle with an XRP ticker down to $0.65 was fraudulent, XRP saw a 12% increase in valueAfter X (formerly known as Twitter) users saw a Delaware submission indicating BlackRock sought the paperwork to establish the “iShares XRP Trust” — a step toward creating an ETF — the story took on a life of its own for around an hour on late November 13. Within thirty minutes of the publishing announcement, XRP spiked to $0.73, a 12% gain. But once Bloomberg ETF expert Eric Balchunas verified that it was a phony, it erased all of its gains in thirty minutes, according to BlackRock.

XRP Trust Gets Registered Under BlackRock In Disguise 

Balchunas surmised that someone had registered the token’s trust under the guise of BlackRock MD Daniel Schwieger on the Delaware list of companies websites. Dylan LeClair, analyst of Bitcoin Magazine was among the very first to report the news. In since-deleted posts, The Block and Balchunas also posted the filings on X. After the company applied for a spot Ether ETH indicators below $2,055 ETF on November 9, BlackRock made it clear that it intended to go beyond BTC symbols below $37,468 with the ETF ambitions. Seyffart emphasized that the spot Ether ETF is genuine amid the fictitious listing, as evidenced by a 19b-4 filing from Nasdaq to the US SEC.