If XRP jumps, it will drop into the fake BlackRock XRP Trust file

A BlackRock filing that suggested the asset manager was creating an XRP exchange-traded product led to a 12% rise in XRP, a file that quickly disappeared after it was proven to be a fake.

The saga was delayed for an hour on November 14 when Twitter users pulled up a Delaware filing showing BlackRock offering to register the “iShares XRP Trust” – a prerequisite for launching an exchange-traded fund (ETF).

XRP surged 12%, rising to $0.73 within 30 minutes of the filing news. However, it lost all its gains within half an hour after it was confirmed to be a fake by Bloomberg ETF analyst Eric Balchunas, who spoke to BlackRock.

Balchunas impersonated BlackRock managing director Daniel Schwiger, who listed the XRP trust on a Delaware list of corporations website.

This is a lie! Verified by me Blackrock. Must have been added using some whacko blackgram exec name etc. Cmon man. pic.twitter.com/cDpnycYwjQ

— Eric Balchunas (@EricBalchunas) November 13, 2023

Bitcoin Magazine analyst Dylan LeClair was among those who initially broke the news. Balchunas and The Block shared the news of the listing in now-deleted posts on X.

Related: Ripple's $770 Million Liquidation Faces Small Odds – XRP Holders Advocate

BlackRock has signaled its desire to expand beyond Bitcoin with its ETF ambitions after the firm filed for the Space Ether ETF on November 9.

In light of the falsified listing, Seyfert confirmed in a 19b-4 Nasdaq filing with the Securities and Exchange Commission that the spot ether ETF was real.

Many people are asking if the Ethereum trust offering is true after seeing that the XRP trust is fake.

Yes. The ishares #Ethereum Trust filing is real and confirmed in a 19b-4 filing on Thursday. Only the XRP trust file was fake. https://t.co/Lqhj8p91NO

— James Seyff (@JSeyff) November 13, 2023

Magazine: Crypto Regulation: Does SEC Chairman Gary Gensler Have Final Comments?