BlackRock shifted plans from Bitcoin to XRP: Rumours

A rumour suggested that giant fund manager BlackRock pivoting its Bitcoin ETF plan to Ripple (XRP).

BlackRock, Inc. is an American multinational investment company based in New York City. This asset fund manager firm is top in the whole world with AUM US$9.42 trillion in assets as of 30 June 2023. On 15 June 2023, this giant fund manager submitted its application for Bitcoin spot ETF with the United States Securities & Exchange Commission (SEC) & later re-submitted another supporting document to confirm that its Bitcoin spot ETF product will remain manipulation-free. Despite several efforts, it is uncertain whether BlackRock will secure regulatory approval from the SEC body or not.

On 15 April 2023, A screenshot of a news article was circulating in the crypto sector claiming that BlackRock planned to shift its focus from Bitcoin to XRP coin. 

That news was published by Investing.com, a highly popular financial website. The majority of the people considered the information 100% true. 

BlackRock rumored to shift crypto focus from Bitcoin to XRP By https://t.co/lsJPR0uYKz https://t.co/SH5UMetPPU

— Digital Assets Daily (@AssetsDaily) September 15, 2023

Later some people noted that the article was published with the help of an Artificial intelligence (AI) tool and modified by the Investing.com editor.

This article was written by AI. It literally says that at the end of the article. Do better Egrag. I expect more from you pic.twitter.com/YwcXgqTPgZ

— Justin Yanssens (@JustinYanssens) September 15, 2023

It is strange to note that the article is still live on the investing.com website. The Bitcoinik.com team read the full article and found that the article failed to provide any trusted source. 

Crypto proponents also brought light against this news and confirmed that the news is fake and the majority of the websites are re-writing & spreading this information to get a better number of clicks. 

BREAKING: False rumours are being spread about Blackrock buying $XRP!

Believe nothing until you see solid evidence folks.

Crypto news sites have been writing WILD headlines on Ripple & XRP lately because they get clicks.

— MASON VERSLUIS (@MasonVersluis) September 15, 2023

Notably, the trade price of XRP coin surged rapidly on the same day, when the news was published i.e. 15 Sep, as we can see in the XRP coin trade price graph.

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