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Blackrock Confirms News of Spot XRP ETF Filing Is Fake

Rumors circulated on Monday that Blackrock, the world’s largest asset manager, has registered to launch an XRP exchange-traded fund (ETF), following its registration of a spot ether ETF. However, Blackrock quickly denied the rumor, confirming that it has not filed to launch an XRP exchange-traded product.

Blackrock Hasn’t File to Launch XRP ETF

As enthusiasm for cryptocurrency exchange-traded funds (ETFs) grows, rumors spread on social media Monday that Blackrock, the world’s largest asset manager, had registered a spot XRP ETF called “Ishares XRP Trust.”

However, several people soon debunked the rumor, including Bloomberg Senior ETF Analyst Eric Balchunas, who alerted his followers on social media platform X that the news is false, citing confirmation from Blackrock. He wrote that “some whacko must have added” the fake information using Blackrock executive names. The fake news sent the price of XRP soaring 7% before losing all of its gains.

Blackrock Confirms News of XRP ETF Filing Is Fake

In September, rumors circulated that Blackrock had shifted its focus to XRP. Nevertheless, numerous individuals swiftly cautioned against this misinformation, emphasizing that Blackrock was not transitioning from bitcoin to XRP. Despite the Blackrock news being fake, XRP has had some good news lately. The Dubai Financial Services Authority recently approved XRP as a recognized crypto token. In July, District Judge Analisa Torres ruled in the Ripple case that “as a matter of law, XRP is not a security.”

Blackrock has already filed for a spot bitcoin ETF called Ishares Bitcoin Trust, and last week, the world’s largest asset manager filed for a spot ether ETF called Ishares Ethereum Trust. Despite approving some ETFs based on crypto futures, the U.S. Securities and Exchange Commission (SEC) has not yet approved any spot crypto ETFs. SEC Chairman Gary Gensler recently said that the securities regulator is considering between eight to 10 spot bitcoin ETF applications. Some people expect the SEC to approve multiple spot bitcoin ETFs at once, including JPMorgan’s analysts.

What do you think about the fake news of Blackrock filing to launch a spot XRP ETF? Let us know in the comments section below.

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