BlackRock's 'Altcoin Bailout Fund' Was Not True... Experts Dismiss as "Groundless Rumor"

▲ BlackRock, Bitcoin (BTC), Ethereum (ETH)/AI generated image ©

Social media rumors spread that BlackRock was launching a so-called 'altcoin bailout fund' for XRP (Ripple), Solana (SOL), Binance Coin (BNB), etc., but industry experts drew a line, stating it was an unconfirmed claim with no official basis or regulatory filings.

According to the cryptocurrency media outlet Bitcoinist on July 3 (local time), industry analysts rated the recent social media rumor about BlackRock launching an altcoin bailout fund as unreliable information. The media reported that although the rumor claimed the launch of a support fund targeting XRP, Solana, and BNB, no official announcement or filings with the U.S. Securities and Exchange Commission (SEC) to support it have been confirmed.

Experts emphasized that BlackRock's current digital asset strategy is focused on existing Bitcoin spot ETFs and Ethereum spot ETFs. This rumor, too, is merely content spread on social media without official grounds, unlike the company's existing business direction.

The media presented data from the U.S. Securities and Exchange Commission (SEC) and information related to iShares as key evidence for this report, stating that they reviewed the facts based on official data rather than unconfirmed secondary information or social media posts. It also added that no figures or regulatory procedures to support the rumor were found in the official documents released regarding the matter.

Bitcoinist emphasized that individual investors should not accept this rumor as fact. While there is a possibility for it to develop into a new market variable if verified official data, regulatory disclosures, protocol records, and corporate announcements are further confirmed, at this point, it is appropriate to regard it as social media speculation rather than fact.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*