State authorities may be investigating the fake registration for a BlackRock “iShares XRP Trust” following a referral from Delaware's Division of Corporations.
A fake filing published to the State of Delaware’s Division of Corporations on Nov. 13 will be referred to the Delaware Department of Justice.
In a Nov. 14 statement, a spokesperson for the Delaware Department of State told Cointelegraph that the false filing claiming that asset manager BlackRock registered an “iShares XRP Trust” would be referred to state authorities. The registration, which appeared as a listing on the state’s Division of Corporations on Nov. 13, momentarily caused the price of XRP to surge roughly 12% before losing its gains when the falsehood was revealed.
LATEST ON FAKE XRP ETF FILING: "Our only comment is that this matter has been referred to the Delaware Department of Justice," the spokesperson (for Delaware Dept of State) said. Damn. Someone out there is crapping their pants as we speak.. https://t.co/Xea226Q1vT
— Eric Balchunas (@EricBalchunas) November 14, 2023
It’s unclear what action, if any, the Delaware Justice Department may take in response to the referral. The party or parties responsible for the fake listing appeared to have used BlackRock managing director Daniel Schwieger’s name to register the trust, suggesting potential fraud if XRP transactions were involved.
Related: XRP becomes 4th largest crypto after Ripple’s partial win over SEC
The fake XRP trust filing hinted that BlackRock could have been planning to launch an XRP-linked exchange-traded fund (ETF) in the United States — a major milestone for the crypto space. BlackRock registered an Ether trust in Delaware on Nov. 9, but to date, the U.S. Securities and Exchange has not approved the listing of any spot crypto ETF.
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from Cointelegraph.com News Turner Wright
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