A counterfeit BlackRock XRP submission has been reported to the Delaware Department of Justice.

Delaware's Department of Justice is possibly looking into a false filing on Monday, indicating that BlackRock was preparing to launch a spot XRP exchange-traded fund (ETF). The misleading submission, still visible on the Delaware Department of State's Division of Corporations website as of 2:30 p.m. ET on Tuesday, closely resembles last week's authentic documentation from BlackRock about its iShares Ethereum Trust. Interestingly, the genuine filing preceded the company's application for a spot ether ETF with U.S. regulators.

After the false XRP filing briefly surged the token by over 10%, a BlackRock spokesperson clarified to CoinDesk that the company had no intention of launching such a fund. The Delaware Department of State indicated that the issue has been forwarded to the state's Department of Justice, stating, "Our only comment is that this matter has been referred to the Delaware Department of Justice." As of now, the Department of Justice has not provided a comment in response to the inquiry.

The ease of filing for a Trust under a false name and entity, along with the verification process, has raised concerns. The Delaware website outlines seven steps for creating a new business entity, and it appears that these steps can be completed by filling out interactive PDF forms on the website. The simplicity of this process may prompt questions about the effectiveness of the verification measures in place.#ETFTrends #xrp #