Delaware Forwards Fake XRP ETF Submission to Justice Department

Delaware Forwards Fake XRP ETF Submission to Justice Department

According to a report by en.cointelegraph.com, a bogus filing with the State of Delaware's Division of Corporations was released on November 13th claiming that asset manager BlackRock had registered an "iShares XRP Trust." This hoax caused the price of XRP to briefly rise by around 12 percent before the cryptocurrency fell again when the fake was discovered.

It is unclear what action the Delaware Department of Justice will take in response to this forgery. The perpetrators behind the fake entry used the name of BlackRock CEO Daniel Schwieger to register the trust, suggesting possible fraud if XRP transactions were made at the same time.

The falsification of the XRP trust application has created the impression that BlackRock wants to launch an XRP ETF in the United States. This would be an important milestone for the crypto space. BlackRock has already registered an Ether (ETH) trust in Delaware, but the US securities regulator has not yet approved a crypto spot ETF.

This fakery has caused short-term volatility in the XRP price and could affect investor confidence in the legitimacy of cryptocurrency ETFs. It is important that investors and market participants remain alert to such counterfeits and closely monitor developments to make informed investment decisions.