BlackRock's 'Altcoin Bailout Fund' Was Not True... Experts Dismiss it 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 that these were unconfirmed claims with no official basis or filings with regulatory authorities.

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

Experts emphasized that BlackRock's current digital asset strategy focuses on existing Bitcoin spot ETFs and Ethereum spot ETFs. They explained that this rumor, contrary to the existing business direction, is merely content spread on social media without official grounds.

The media presented U.S. Securities and Exchange Commission (SEC) data and iShares-related information 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 supporting the rumor were found in the official documents released regarding the matter.

Bitcoinist emphasized that individual investors should not take 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 unverified social media speculation.

*Disclaimer: This article is for investment reference only and does not take responsibility for investment losses based on it. The content should be interpreted for informational purposes only.*