Blackrock has refuted any attempt to introduce an exchange-traded fund (ETF) for XRP, claiming that a regulatory filing indicating that this action is fraudulent. As word of the purported filing spread on social media, the price of XRP briefly surged above 10% before falling back to its intraday pre-news level of about 65 cents. The U.S. Securities and Exchange Commission (SEC) has received a previous filing from Blackrock about the introduction of spot bitcoin and ether ETFs.
Delaware’s corporation registration procedure has reportedly been misused before, ostensibly to boost cryptocurrency values. Two filings from the asset manager Grayscale in 2021 indicated that the company will introduce trust vehicles for two tokens for which it had no plans. Digital Currency Group, the parent firm of CoinDesk, owns Grayscale as a subsidiary. On Monday afternoon, when ETF observers, such as Bloomberg’s Eric Balchunas, emphasised the fraudulent filing and presented it as authentic, speculation gained traction. The news was also re-circulated by media companies like Bankless and The Block, which increased buy pressure on XRP.