BlackRock XRP ETF: What You Need to Know
If you’ve been following the news, you may have heard about the mysterious BlackRock XRP ETF filing that surfaced in Delaware earlier this week. Initially debunked by Bloomberg’s Eric Balchunas, recent developments have raised suspicions that the filing was actually made by BlackRock.
Anyone Can File an ETF Trust
One surprising revelation from the BlackRock XRP ETF debacle is that pretty much anyone can create an ETF Trust. Pro-XRP attorney Jeremy Hogan revealed on Twitter that anyone could spoof an “XRP ETF” Trust. Hogan explained that while the filing is real, it is fraudulent and could be cheaply made with just $500. All that is needed for such a Trust to appear on the Delaware Corp. Commission website is to fill out two documents and pay a $500 fee.
Hogan suggests that whoever did this might have tried to replicate what happened when BlackRock filed for an Ethereum spot ETF, or maybe Blackrock has clients who want exposure to XRP and have begun the process.
Details Of The ‘Fake’ ETF Filing
Another attorney, Fred Rispoli also confirmed what Hogan said about anyone being able to fake such a filing and having it listed on the site. The XRP Trust filing reportedly matches the BlackRock Ethereum ETF filing with some differences, but there are no traces of any SEC filings of iShares Ethereum and XRP Trusts.
Rispoli adds that there were no trademarks filed by BlackRock for all its crypto trusts filed this year, including Bitcoin, Ethereum, and XRP ones. And even if the BlackRock XRP Trust filing were true, it wouldn’t be the first one as Grayscale ran an XRP Trust between 2018 and 2021.
XRP Trust Filing Still Up
Despite initial denials from an insider at BlackRock, skepticism remains among investors as the filing still remains on the Delaware Corp. Commission website. It has not been delisted despite doubts over its authenticity.
Hot Take: Is The Filing Real?
As of now, there’s still no official word from BlackRock confirming whether the filing is legit or not. However, Eric Balchunas has stated that a BlackRock spokesperson has confirmed the filing is fake. So it seems like this mysterious situation will continue to unfold.
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