{"id":24986,"date":"2023-11-14T00:41:20","date_gmt":"2023-11-14T00:41:20","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/xrp-jumps-then-dumps-on-faked-blackrock-xrp-trust-filing\/"},"modified":"2023-11-14T00:41:22","modified_gmt":"2023-11-14T00:41:22","slug":"xrp-jumps-then-dumps-on-faked-blackrock-xrp-trust-filing","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/xrp-jumps-then-dumps-on-faked-blackrock-xrp-trust-filing\/","title":{"rendered":"XRP jumps then dumps on faked BlackRock XRP trust filing"},"content":{"rendered":"
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A BlackRock filing suggesting the asset manager was creating an XRP (XRP) exchange-traded product caused a 12% spike in XRP, which it quickly lost after the filing was confirmed as fake.<\/p>\n

The saga lasted an hour late on Nov. 14 as X (Twitter) users picked up on a Delaware filing showing BlackRock filed to register the \u201ciShares XRP Trust\u201d \u2014 a precursor to launching an exchange-traded fund (ETF).<\/p>\n

XRP gained 12%, spiking to $0.73 within 30 minutes of the news of the filing. However, it lost all its gains in half an hour after it was confirmed a fake by Bloomberg ETF analyst Eric Balchunas, who spoke with BlackRock.<\/p>\n

XRP’s price spike Source: Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n

Balchunas speculated someone listed the XRP trust on the Delaware list of corporations website by impersonating BlackRock managing director Daniel Schwieger.<\/p>\n

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This is false! Confirmed by BlackRock by me. Some whacko must have added using BlackRock executive name etc. Cmon man. pic.twitter.com\/cDpnycYwjQ<\/a><\/p>\n

\u2014 Eric Balchunas (@EricBalchunas) November 13, 2023<\/a><\/p><\/blockquote>\n

Bitcoin Magazine analyst Dylan LeClair was one of the first to initially break the news. Balchunas and The Block also shared news of the listing on X in now-deleted pos.<\/p>\n

Related: <\/em><\/strong>Ripple faces slim odds of $770M disgorgement \u2014 XRP holders attorney<\/em><\/strong> <\/em><\/strong><\/p>\n

BlackRock signaled its intention to expand beyond Bitcoin with its ETF aspirations after the firm filed for a spot Ether ETF on Nov. 9.<\/p>\n

In light of the faked listing, Seyffart iterated that the spot Ether ETF is real as it was officially confirmed via a 19b-4 submission by Nasdaq to the Securities and Exchange Commission.<\/p>\n

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Lot of people now asking if the Ethereum trust filing was real after seeing the XRP trust was fake. <\/p>\n

YES. The ishares #Ethereum<\/a> trust filing is real and was confirmed via 19b-4 filing on Thursday. Only the XRP trust filing was fake. https:\/\/t.co\/Lqhj8p91NO<\/p>\n

\u2014 James Seyffart (@JSeyff) November 13, 2023<\/a><\/p><\/blockquote>\n

Magazine:<\/em><\/strong> <\/em><\/strong>Crypto regulation: Does SEC Chair Gary Gensler have the final say?<\/em><\/strong><\/p>\n<\/div>\n