Friday, June 21, 2024

Speculation emerged this Monday suggesting that Blackrock, the leading global asset management firm, had filed for the creation of an XRP exchange-traded fund (ETF), hot on the heels of its application for a spot ether ETF. Blackrock has since refuted these claims, stating unequivocally that it has no plans to introduce an ETF for XRP.

Blackrock Refutes XRP ETF Registration Rumors

Amidst growing interest in cryptocurrency ETFs, social media buzz on Monday implied that Blackrock, the foremost asset manager worldwide, had lodged an application for a spot XRP ETF named “Ishares XRP Trust.”

This rumor was swiftly countered by several figures, including Eric Balchunas, a Senior ETF Analyst at Bloomberg. On social media platform X, Balchunas dismissed the speculation as baseless, pointing to Blackrock’s own disavowal of such claims. He suggested that the misinformation, which briefly drove XRP’s price up by 7% before it receded, might have been the work of an individual misusing names of Blackrock executives.

In September, there were whispers that Blackrock was pivoting its attention to XRP, shifting away from bitcoin. However, this was quickly challenged by numerous sources, underlining that Blackrock had no such intention of moving from bitcoin to XRP. Despite this, XRP has experienced some positive developments. The Dubai Financial Services Authority has recently acknowledged XRP as a valid crypto token. Additionally, in the Ripple lawsuit, District Judge Analisa Torres declared in July that XRP cannot legally be considered a security.

Blackrock has filed for a spot bitcoin ETF known as the Ishares Bitcoin Trust and recently applied for a spot ether ETF, the Ishares Ethereum Trust. While the U.S. Securities and Exchange Commission (SEC) has approved certain ETFs tied to crypto futures, it is yet to greenlight any spot crypto ETFs. SEC Chairman Gary Gensler has indicated that the agency is reviewing around eight to 10 applications for spot bitcoin ETFs. Experts, including those from JPMorgan, anticipate that the SEC might approve several spot bitcoin ETFs simultaneously.

What are your thoughts on the unfounded claims regarding Blackrock’s supposed filing for a spot XRP ETF? Share your views in the comments below.

Frequently Asked Questions (FAQs) about Blackrock XRP ETF

Did Blackrock file for an XRP exchange-traded fund?

No, Blackrock did not file for an XRP exchange-traded fund. Rumors suggesting this were circulated on social media but were quickly debunked by Blackrock and industry experts.

What was the impact of the false XRP ETF rumor?

The false rumor about Blackrock filing for an XRP ETF briefly caused a 7% increase in XRP’s price, which later receded. This misinformation was clarified by Bloomberg’s Senior ETF Analyst and other sources.

Has Blackrock shown interest in cryptocurrency ETFs?

Yes, Blackrock has shown interest in cryptocurrency ETFs. They have already filed for a spot bitcoin ETF, known as Ishares Bitcoin Trust, and recently for a spot ether ETF, named Ishares Ethereum Trust.

What recent positive development occurred for XRP?

Recently, XRP was recognized as a valid crypto token by the Dubai Financial Services Authority. Moreover, in the Ripple lawsuit, it was ruled that XRP is not legally considered a security.

Is the U.S. SEC considering spot crypto ETFs?

Yes, the U.S. Securities and Exchange Commission (SEC) is currently considering multiple applications for spot crypto ETFs, including around eight to 10 for spot bitcoin ETFs. However, no spot crypto ETFs have been approved yet.

More about Blackrock XRP ETF

  • Blackrock’s Official Statement on XRP ETF Rumors
  • Bloomberg’s Analysis on Cryptocurrency ETF Trends
  • Dubai Financial Services Authority’s Recognition of XRP
  • Legal Status of XRP in the Ripple Case
  • Overview of Blackrock’s Cryptocurrency ETF Filings
  • U.S. SEC’s Stance on Spot Crypto ETFs

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

5 comments

XRPBeliever November 14, 2023 - 8:30 am

Disappointed, but not surprised. Thought Blackrock getting into XRP was too good to be true. Still, good to see XRP getting recognized in Dubai.

Reply
LegalEagle101 November 14, 2023 - 9:57 pm

The Ripple case ruling was a big win for XRP, but this ETF confusion shows the market’s still unstable. The SEC’s stance on crypto ETFs is key.

Reply
InvestorJenny November 14, 2023 - 10:28 pm

Makes you wonder how many decisions are made based on misinformation. The price jump of XRP shows just how reactive the crypto market is.

Reply
CryptoKing47 November 15, 2023 - 1:24 am

wow, so Blackrock isn’t doing XRP ETF after all? the rumors had me convinced, gotta be more careful with what i read online.

Reply
ETFWatcher November 15, 2023 - 5:18 am

It’s interesting to see how quickly these rumors spread and the market reacts, even a giant like Blackrock isn’t immune to fake news, huh?

Reply

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.

Follow us

CryptokenTop

CrypTokenTop is a website dedicated to providing comprehensive information and analysis about the world of cryptocurrencies. We cover topics such as Bitcoin, Ethereum, NFTs, ICOs, and other popular crypto topics. Our mission is to help people learn more about the crypto space and make informed decisions about their investments. We provide in-depth articles, analysis, and reviews for beginners and experienced users alike, so everyone can make the most out of the ever-evolving world of cryptocurrency.

© 2023 All Right Reserved. CryptokenTop