Cryptocurrency Community Questions Blackrockโs Alleged Shift to XRP
In recent days, social media has been abuzz with rumors that Blackrock, the worldโs largest asset manager, is changing its cryptocurrency strategy from Bitcoinย (BTC) to XRPย Rippleย (XRP). An post published by Investing.com, titled โBlackrock rumored to shift cryptocurrency focus from Bitcoinย (BTC) to XRP,โ fueled the speculation. Nonetheless, numerous within the cryptocurrency community are skeptical of theย latestย information, citing a lack of credible sources and substantiation for the claim.
One prominent voice dismissing the rumors is cryptocurrency influencer Budhil Vyas, who labeled it as fake news on Twitter. Vyas emphasized that Blackrock is not abandoning Bitcoin for the Ripple-backed digital asset XRP.
Fake News Alert: Blackrock is NOT shifting from Bitcoinย (BTC) to XRPย Rippleย (XRP). Donโt fall for the rumors that the worldโs largest asset manager is dumping Bitcoin for the Ripple-backed digital asset.
Althoughย while some users pointed out a connection between Ripple and Blackrock through Robert Mitchnickโs previous roles at both corporations, it remains unclear if thisย means a strategic shift in cryptocurrency focus.
Blackrock Awaits SEC Approval for Bitcoinย (BTC) ETF
Blackrock is asย ofย now awaiting approval from the Unitedย States Securities and Exchange Commission (SEC) for its spot Bitcoinย (BTC) exchange-traded fund (ETF) application. The asset manager has consistently expressed its commitment to regulatory compliance. CEO Larry Fink believes that digitalย currency offers unique value compared to other asset classes and has worldwide probable beyond currency valuations.
Notably, SEC Chairman Gary Gensler considers all cryptocurrency tokens, except Bitcoinย (BTC), as securities. The SEC is presently engaged in a legal battle with Ripple Labs regarding the sales of XRP.
Prior Speculations of Blackrockโs Bitcoinย (BTC) Accumulation
Earlier theseย 30ย days, there were speculations that Blackrock was accumulating a wholeย lotย of amount of Bitcoin ahead of its spot Bitcoinย (BTC) ETF launch. Althoughย while the SEC has delayed its decision on all spot Bitcoinย (BTC) ETF applications, analysts anticipate approvals for most or all of them by mid-March next year.
Hot Take: Unverified Rumors Shake Cryptocurrency Community
The recent rumors surrounding Blackrockโs alleged shift to XRPย Rippleย (XRP) have caused a stir in the cryptocurrency community. With doubts cast on the veracity of the states and the lack of credible sources, skepticism prevails. As Blackrock awaits SEC approval for its Bitcoinย (BTC) ETF, the industry eagerly anticipates the regulatorโs decision on numerous applications. Until then, it is essential to approach unverified rumors with caution and rely on reliable information to make notified decisions within the cryptocurrency space.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.
