XRP pumped Monday afternoon on November 13th on the news of BlackRock filing for an XRP Spot Trust, and this filing was actually on the government website in Delaware — but it was a fake filing.
Bloomberg ETF Analyst Confirms Fake ETF Application
Eric Balchunas of Bloomberg contacted and confirmed with BlackRock that it was a fake filing.
It was reported that BlackRock filed to register a new iShares XRP Trust entity in Delaware — this meant that we could potentially get a BlackRock XRP ETF.
But the news was short lived and the story was in fact confirmed to be fake — there is no XRP ETF and the asset management company did not file to register an iShares XRP Trust entity.
This partnership was believable though and did make a whole lot of sense because of Ripple’s relationship with traditional finance on a global scale.
Ethereum Trust Filing
Because of the XRP fake filing, that brought into question the Ethereum Trust filing which took place recently last week.
Bloomberg analyst James Seyffart cleared on the matter that the Ethereum filing was indeed real as it was confirmed through a 19b-4 filing on November 9th, and only the XRP trust filing was fake.
Read: Ethereum Pumps Over $2.1K As Blackrock Spot ETH ETF News Surfaces
Attorney Fred Rispoli Shares His Thoughts On The Matter
Attorney Fred Rispoli shares his thoughts on the matter and reveals that you can fake applications through a government website like this.
So we must be careful because these scammers are trying to manipulate the markets — if you recall, there was fake news around the Bitcoin Spot ETF for BlackRock being approved, and Larry Fink had to go on television and say it was fake.
Read: Cointelegraph Credibility Shaken After Media Outlet Manipulates BTC Price By Over 10%
XRP Price
The price of XRP began to pump 15% in a single day after the news broke out and quickly fell back down to its previous level when it was revealed that the ETF application was not true.
Final Thoughts
So these scammers are getting more sophisticated and more bold — the fact that they are taking BlackRock’s name and filing a fake application.
The TLDR here though is that you can see the market is clamoring for a spot ETF — whether it be Bitcoin, Ethereum or XRP. This is where the SEC needs to act, but right now we are just being delayed.
It does not matter that this was a fake filing because we know eventually that these products will be built, especially the fact that XRP has the legal clarity in the US which obviously the SEC took a big loss. So very bullish overall, despite the fake news.
