Listen to the article
Rumors of BlackRock’s Secret XRP Acquisitions Debunked by Industry Analysis
Speculation has been swirling across social media platform X that BlackRock, the world’s largest asset manager with $14 trillion in assets under management, has been secretly accumulating XRP through cryptocurrency exchange Coinbase. These rumors gained significant traction after reports claimed that Coinbase’s XRP reserves had plummeted by 90% over a six-month period.
Financial news outlet Coinpedia conducted a thorough fact-checking investigation to determine whether these claims had any merit or were simply unfounded speculation circulating through crypto communities.
The original claim came from an X user identified as “Ledger Man,” who asserted that Coinbase’s dwindling XRP reserves indicated BlackRock had potentially acquired between 200 and 400 million XRP tokens. The speculation drew connections to BlackRock’s existing partnership with Coinbase, established in August 2022, which provides the asset manager’s institutional clients with access to cryptocurrency trading and custody services through Coinbase Prime.
However, Coinpedia’s investigation found no substantial evidence supporting these claims.
First and foremost, neither BlackRock nor its CEO Larry Fink has made any public statements confirming XRP acquisitions. No regulatory filings or official disclosures indicate that BlackRock currently holds XRP on its balance sheet, which would likely be required given the company’s size and regulatory obligations.
The existing partnership between BlackRock and Coinbase, while significant for institutional cryptocurrency adoption, does not specifically focus on XRP. The collaboration primarily provides infrastructure access, trading capabilities, and custody services for select digital assets – but this relationship alone doesn’t substantiate claims of massive XRP acquisitions.
Further undermining the rumors, BlackRock has explicitly stated it has “no plans to launch a BlackRock XRP ETF at this time.” This statement directly contradicts another circulating speculation that followed the successful launches of BlackRock’s spot Bitcoin and Ethereum ETFs, which have attracted billions in inflows since their respective debuts.
Coinpedia also clarified a misunderstanding regarding BlackRock’s actual involvement with Ripple’s technology. The asset manager’s BUIDL fund has partnered with digital asset securities firm Securitize to enable investors to swap fund shares for RLUSD, a digital asset on the XRP Ledger. While this represents institutional exploration of the underlying blockchain infrastructure, it doesn’t necessitate or indicate direct XRP token purchases by BlackRock.
The 90% decline in Coinbase’s XRP reserves that sparked these rumors could be attributed to various factors unrelated to BlackRock, including normal market movements, customer withdrawals, or internal wallet restructuring by the exchange.
This episode highlights the cryptocurrency market’s susceptibility to unverified claims and speculation, particularly involving institutional adoption narratives. Such rumors can significantly impact market sentiment and potentially lead to price volatility based on unfounded information.
For context, XRP remains one of the largest cryptocurrencies by market capitalization despite Ripple’s lengthy legal battle with the SEC, which was partially resolved in 2023. Institutional interest in the broader cryptocurrency space has grown substantially, with firms like BlackRock legitimizing the asset class through regulated investment products, primarily focused on Bitcoin and more recently Ethereum.
While major financial institutions continue to explore blockchain technology and digital assets, Coinpedia’s investigation concluded that claims of BlackRock secretly accumulating XRP remain unsubstantiated speculation. Without official confirmation or verifiable evidence, these rumors should be treated with significant skepticism by market participants and observers alike.
Fact Checker
Verify the accuracy of this article using The Disinformation Commission analysis and real-time sources.
14 Comments
This sounds like another case of unsupported crypto gossip spreading online. Without concrete proof, I’m skeptical of the claims about BlackRock secretly acquiring XRP through Coinbase. The investigation seems to have debunked the original speculation.
Agreed. Crypto communities can be rife with unfounded rumors, so it’s good to see a reputable outlet like Coinpedia digging into the facts here.
Hmm, the drop in Coinbase’s XRP reserves is certainly interesting, but the investigation appears to have debunked the specific claims about BlackRock’s alleged involvement. Seems like more speculation than substance in this case. Good to see some fact-checking being done.
Agreed. Crypto communities can be prone to spreading unsubstantiated rumors, so it’s reassuring to see a reputable outlet like Coinpedia taking a closer look at the claims and finding them lacking in evidence.
Interesting allegations about BlackRock and XRP. I wonder what the real story is behind the Coinbase XRP reserve changes. Seems like a lot of speculation and rumors circulating. Looking forward to seeing if any credible evidence emerges on this.
Yes, it’s always important to scrutinize these kinds of claims and look for verified information from reliable sources. Fact-checking is crucial when dealing with crypto rumors.
While the drop in Coinbase’s XRP reserves is noteworthy, the investigation seems to have found no solid evidence to back up the claims of a secret BlackRock acquisition. Crypto rumors often spread rapidly, so I’m glad to see this one getting the fact-checking treatment.
Agreed. Speculation and unverified claims can be very misleading, especially in a fast-moving and volatile market like crypto. Responsible reporting like this helps cut through the noise.
The changing XRP reserves at Coinbase are an interesting data point, but hardly proof of a BlackRock acquisition scheme. Sounds like the reporters did their due diligence in assessing the claims. Good to see some fact-checking on these types of crypto stories.
Absolutely. With so much speculation and hype in the crypto space, it’s important to separate the facts from fiction. Looking forward to seeing if any credible information emerges on this down the line.
The alleged BlackRock-Coinbase-XRP connection sounds like another case of crypto conspiracy theories running wild. It’s good to see the claims being put under the microscope and found lacking in substantial evidence. Fact-checking is crucial in this space.
Definitely. With so much hype and misinformation out there, it’s important to maintain a critical eye and wait for verified information from credible sources. This investigation seems to have done a good job of that.
The allegations about BlackRock secretly acquiring XRP through Coinbase sound like another case of crypto rumor mills running wild. Kudos to the reporters for digging into the facts and finding no substantial evidence to support the claims. Responsible journalism is crucial in this space.
Absolutely. With so much hype and speculation in the crypto world, it’s vital to separate truth from fiction. This investigation seems to have done a good job of cutting through the noise and providing a more objective assessment of the situation.