BlackRock Allegedly Ventures into XRP Territory with New iShares Trust Registration

BlackRock’s New Leap into Cryptocurrency: iShares XRP Trust

In a recent revelation on social media, a noteworthy development in the cryptocurrency market has come to light. BlackRock, a titan in the investment world, is reportedly making strides into the realm of digital currencies. According to a Twitter post by Summers, a user known for accurate financial insights, BlackRock has taken a significant step by registering the iShares XRP Trust product, which could be a precursor to an XRP Spot Exchange-Traded Fund (ETF).

Details Emerge on Social Media

Summers, who previously broke the news about BlackRock’s Delaware registration for an Ethereum Spot ETF, shared this latest development on Twitter, stirring interest and speculation in the financial community.

Verification and Speculation: Analysts Weigh In

The news has caught the attention of renowned Bloomberg analysts Eric Balchunas and James Seyffart, who have provided their expert take on the situation.

• Eric Balchunas’ Observations: Balchunas confirms the legitimacy of the registration, noting that the iShares XRP Trust appears on the Delaware corporation listing website. His initial skepticism turned to acknowledgment of the potential for an upcoming ETF application.
• James Seyffart’s Insights: Seyffart expressed surprise at the development, acknowledging the registration’s presence on the Delaware site. He draws parallels to the earlier Ethereum Trust application and speculates on the implications this move might have for BlackRock’s strategy, particularly in relation to the U.S. Securities and Exchange Commission (SEC).

Awaiting Confirmation and Clarity

As it stands, there is no official confirmation that BlackRock has filed for an XRP Spot ETF. The ease of adding applications to Delaware’s registration website means that without official word from BlackRock, the authenticity of the application remains a subject of conjecture. Upon the announcement, the price of XRP experienced a swift surge, reaching $0.75.

Conclusion and Future Updates

This unfolding story highlights the increasing interest of major financial players in the cryptocurrency space. As more information becomes available, further details on BlackRock’s potential venture into an XRP Spot ETF and its broader implications for the digital currency market will be closely monitored and reported.