Finance firms • November 13, 2023, 4:49PM EST
Published 1 minute earlier on

Fake filing for BlackRock XRP Trust caused brief price spike

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Quick Take

  • The price of XRP rallied briefly on the fake news of a potential Blackrock XRP ETF on Monday.
  • The firm denied the authenticity of the Delaware entity filing that caused a fuss.

A fake filing that was designed to look like BlackRock was setting the stage for an XRP ETF caused a temporary pump in the price of XRP.

The filing was submitted to the Delaware Divisions of Corporations and published on its website. It contained details matching similar BlackRock filings, including the name and address of its registered agent. It was similar to previous filings for bitcoin and ether, but naming XRP.

Yet a BlackRock spokesperson confirmed to The Block that the filing has no relation to the asset manager. This means BlackRock is not currently preparing to launch a spot XRP ETF.

The filing, first spotted by users on X, was followed by a 12% hike in the price of XRP over the next 30 minutes after the first posts. Once it was reported that the filing was fake, the price returned closer to the previous level of 66 cents per token, according to Coingecko.


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