News - False application for BlackRock XRP Trust causes brief price spike
An alleged application by BlackRock for an XRP Trust caused a brief rally in the cryptocurrency. However, the application turns out to be fake.
The alleged registration of an XRP trust by the world's largest asset manager BlackRock caused a lightning-fast jump in the stock price yesterday, Nov. 13.
The application for the "iShares XRP Trust" was submitted to the Delaware Divisions of Corporations and published. The document was very similar to previous applications from BlackRock and therefore caused temporary euphoria on social networks.
This is false! Confirmed by BlackRock by me. Some whacko must have added using BlackRock executive name etc. Cmon man. pic.twitter.com/cDpnycYwjQ— Eric Balchunas (@EricBalchunas) November 13, 2023
However, Eric Blachunas, senior ETF analyst at the Bloomberg news portal, clarified that the submitted document was a forgery. A spokesman for Bloomberg confirmed Balchunas that the asset manager was not behind the application.
BlackRock recently made headlines by registering an Ethereum Spot ETF. As a result, it broke ETH through the $2,100 mark.
XRP quoted short a sharp price increase of about 12 percent to more than $0.70. Meanwhile, the cryptocurrency has almost returned to the price before the false report and is back at $0.66 with a gain of 1.9 percent per 24 hours.