Digital

False BlackRock XRP ETF News Triggers $6 Million in Liquidations

A false announcement on X (formerly Twitter) claiming that BlackRock had applied for an XRP exchange-traded fund (ETF) led to $6 million in liquidations. The initial post suggested that BlackRock registered a new iShares XRP Trust entity in Delaware, prompting a sell-off. However, the news was swiftly corrected, and it was revealed to be fake.

Bloomberg analyst Eric Balchumas verified the information with BlackRock, stating that the filing was false and likely the work of someone using a BlackRock executive’s name. Despite the correction, Coinglass data indicates a significant liquidation volume of $6.91 million for XRP within 24 hours.

XRP’s price, at the time of publication, stands at $0.66. This incident occurred shortly after BlackRock filed an application for the iShares Ethereum Trust in Delaware, contributing to a surge in Ethereum’s price to $2,064.

While BlackRock’s spot Bitcoin ETF application is currently under scrutiny by the United States Securities and Exchange Commission (SEC), the crypto community remains hopeful for approval, anticipating a potential market surge.

Disclaimer:

This news article follows the Trust Project guidelines, aiming for unbiased and transparent reporting. Readers are encouraged to verify facts independently and seek professional advice before making decisions based on this information.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *