XRP jumps then dumps on faked BlackRock XRP trust filing

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A BlackRock filing suggesting the asset manager was creating an XRP ( $1.41 ) ( XRP ( $1.41 ) ) exchange-traded product caused a 12% spike in XRP ( $1.41 ) , which it quickly lost after the filing was confirmed as fake.

The saga lasted an hour late on Nov. 14 as X (Twitter) users picked up on a Delaware filing showing BlackRock filed to register the “iShares XRP ( $1.41 ) Trust” — a precursor to launching an exchange-traded fund (ETF).

XRP ( $1.41 ) gained 12%, spiking to $0.73 within 30 minutes of the news of the filing. However, it lost all its gains in half an hour after it was confirmed a fake by Bloomberg ETF analyst Eric Balchunas, who spoke with BlackRock.

XRP ( $1.41 ) ’s price spike Source: Cointelegraph Markets Pro

Balchunas speculated someone listed the XRP ( $1.41 ) trust on the Delaware list of corporations website by impersonating BlackRock managing director Daniel Schwieger.

Bitcoin ( $0.00 ) Magazine analyst Dylan LeClair was one of the first to initially break the news. Balchunas and The Block also shared news of the listing on X in now-deleted pos.

Related: Ripple faces slim odds of $770M disgorgement — XRP ( $1.41 ) holders attorney

BlackRock signaled its intention to expand beyond Bitcoin ( $0.00 ) with its ETF aspirations after the firm filed for a spot Ether ETF on Nov. 9.

In light of the faked listing, Seyffart iterated that the spot Ether ETF is real as it was officially confirmed via a 19b-4 submission by Nasdaq to the Securities and Exchange Commission.

Magazine: Crypto regulation: Does SEC Chair Gary Gensler have the final say?