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BlackRock Denies XRP Spot ETF Registration; Price Surge Unrelated

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322 Listen to this article In a surprising turn of events, BlackRock has officially refuted recent claims suggesting the registration […]

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In a surprising turn of events, BlackRock has officially refuted recent claims suggesting the registration of Ishares XRP Trust for an XRP Spot ETF. The news, which initially sparked excitement in the market, has been proven false, leading to questions about the accuracy of such reports.

XRP Price Surge Amidst Uncertainty

Following the dissemination of the erroneous information, the price of XRP experienced a sudden surge, reaching $0.72. However, it has been clarified that this market movement is not connected to any legitimate registration or filing by BlackRock.

Balchunas Debunks the Rumors

Prominent Bloomberg analysts, Eric Balchunas and James Seyffart, swiftly addressed the situation. Balchunas, in response to the circulating misinformation, stated, “Guys, this is FAKE. XRP is currently trading where it was before rising 15%. There are a lot of people asking if the Ethereum trust application is real after seeing that the XRP trust is fake. This application was real. The Ishares Ethereum trust application is real and was approved via filing 19b-4 on Thursday. Only the XRP trust application was fake.

Seyffart’s Surprise and Speculation

James Seyffart expressed surprise at the unexpected turn of events, stating, “I didn’t see this coming. It’s definitely on the site. Application information is similar to the Ethereum Trust application. This XRP trust, if this is indeed coming from BlackRock, could be a sign that BlackRock is actually going after the SEC. Is Larry just focusing here? I’m trying to confirm if this belongs to BlackRock or if it’s an elaborate scam/pump and dump.

Read Also:  Poloniex Launches XRP Perpetual Contracts with 20x Leverage

Caution Urged in Interpreting Unofficial Information

As the situation unfolds, it remains uncertain whether BlackRock has any intentions to apply for an XRP Spot ETF. Investors and the financial community are advised to exercise caution and rely on verified statements from official sources to ensure accurate and reliable information regarding potential investment opportunities. The importance of discerning between factual announcements and market speculation is paramount in making informed financial decisions.

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