The price of XRP (XRP) experienced a significant surge recently after a fake filing for the "BlackRock iShares XRP Trust" with the state of Delaware.
The price of XRP (XRP) experienced a significant surge recently after a fake filing for the "BlackRock iShares XRP Trust" with the state of Delaware. Following the misleading registration, XRP's value shot up by 12% within 30 minutes, as speculators anticipated a potential XRP ETF filing by BlackRock, similar to the Ethereum trust the asset manager registered for last week.
However, the excitement proved short-lived as BlackRock confirmed the XRP filing to be fake, leading to a rapid decline in XRP's price. The incident has now attracted the attention of Delaware prosecutors, with the Delaware Office of the Secretary of State notifying the state Department of Justice about the deceptive filing.
BlackRock, the world's largest fund manager, is currently awaiting the Securities and Exchange Commission's (SEC) decision on its Bitcoin ETF application. The SEC has historically rejected such applications, primarily citing concerns about market manipulation. Despite this, analysts at Bloomberg Intelligence suggest there is a 90% chance of the U.S. market having a Bitcoin ETF by January 10, 2024, contributing to the recent optimism and increased activity in the crypto market.
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