The Fake BlackRock Ripple (XRP) ETF Application Handed Over to Delaware Authorities: Bloomberg

Bloomberg’s senior ETF analysts recently confirmed that the claims that BlackRock had registered the iShares XRP Trust in Delaware are false.

Moreover, they said the matter has been passed to the local authorities since the registration appeared on an official government website.

Ripple ETF Filing False, Authorities Take Over

Spot Crypto ETFs are arguably the biggest trend in the industry now, with the community, as well as retail and institutional investors, anticipating the potential approval of a BTC exchange-traded fund. This is because of the involvement of financial giants, such as BlackRock – the world’s largest asset manager, which even recently registered the iShares Ethereum Trust in Delaware.

Just a few weeks after its latest filing, news broke that BlackRock had decided to register another one – this time for Ripple (XRP). However, this was proven to be false almost immediately by several prominent entities, including Bloomberg and its senior ETF analysts.

Many in the community disputed their claims, which led to more speculations. However, both Bloomberg ETF experts – Eric Balchunas and James Seyffart – reaffirmed their stance and even went further, indicating that the matter has been handed over to the Delaware authorities.

LATEST ON FAKE XRP ETF FILING: “Our only comment is that this matter has been referred to the Delaware Department of Justice,” the spokesperson (for Delaware Dept of State) said. Damn. Someone out there is crapping their pants as we speak.. https://t.co/Xea226Q1vT

— Eric Balchunas (@EricBalchunas) November 14, 2023

XRP’s Pump and Dump

The crypto industry has seen its fair share of fake news that results in the immediate price pump and dump of certain assets, such as the Walmart-Litecoin fiasco from a few years back. The fake Ripple ETF application is just the latest example.

The blockchain project’s native token stood at $0.65 and suddenly shot up to $0.75 after the news went live. When the claims were refuted, the asset returned to its starting position just as quickly.

Since then, XRP has been unable to post any gains and even slipped below $0.6 earlier today amid the market-wide retracement. As of now, though, the cryptocurrency trades at around $0.63.