The fake filing sent XRP higher by more than 10% before the token gave back those gains.
Blackrock (BLK) is not attempting to launch an XRP exchange-traded fund (ETF), the asset manager said Monday.
A regulatory filing suggesting the company had taken a first step toward doing so is fake, a spokesperson said shortly after the news began circulating on social media. XRP's price jumped more than 10% at one point but had already begun sinking back to its pre-news intraday price of around 65 cents.
Blackrock has previously filed with the U.S. Securities and Exchange Commission (SEC) to launch spot bitcoin and ether ETFs. Prior to those SEC filings, were filings for a Delaware entity, which acts as the corporate vehicle for the product. Paperwork submitted Monday mimicked those forms but was not in fact filed by the asset management giant.