XRP Rises, Then Drops Due to Fake BlackRock Trust Filing

Published on:

Last Updated on November 14, 2023 by Bitfinsider

XRP holders were stunned for a brief period today.

Someone did file the corporation registration in Delaware, but it wasn’t BlackRock, according to a company representative.

The XRP registration is fake, according to BlackRock, which registered the name for its iShares Ethereum Trust in Delaware last week. The phony XRP trust application used the same address and contact information as BlackRock’s legitimate ETH submission last week.

When BlackRock certified last week that the iShares Ethereum Trust company name registration in Delaware was valid, Etheruem surpassed $2,000 for the first time in a few months. This is because such registrations are normally required prior to the filing of an ETF. In this example, everything went exactly as planned, with BlackRock subsequently confirming its plans for an Ethereum ETF in a Nasdaq filing.

There has been a lot of speculation and market movement in relation to Bitcoin and Ethereum ETFs, particularly those issued by BlackRock if they are authorized. A Wall Street monster, the $9 trillion asset manager. In June, BlackRock made ripples in the cryptocurrency market by registering for the iShares Bitcoin Trust. Price increases have accompanied each change or update.

Aside from the forged XRP trust name registration today, there has been other bogus news while the industry awaits the approval of an ETF. In October, a false claim that the SEC had accepted the BlackRock Bitcoin ETF proposal caused the BTC price to rise by 10% before falling down.

Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.