Fact Check: Is BlackRock Secretly Buying XRP Through Coinbase?

A viral news has been spreading across X, suggesting that the world’s largest asset manager, BlackRock, with $14 trillion in total AUM, is secretly buying XRP through Coinbase. The claims intensified after reports that Coinbase’s XRP reserves dropped by 90% in six months.

So Coinpedia stepped in to fact-check whether the claim is real or just a rumor.

Who Made This Claim?

An X user known as “Ledger Man” claimed that Coinbase’s XRP reserves fell by 90% in six months, sparking speculation that BlackRock may have accumulated between 200 million and 400 million XRP.

The connection to BlackRock comes from its partnership with Coinbase, which allows institutional clients to access crypto trading and custody through Coinbase Prime.

But is all this claim true? Let’s break it down.

Coinpedia’s Key Findings: What’s Actually True?

No Official Confirmation BlackRock Bought XRP

As of now, there is no official statement confirming that BlackRock has purchased XRP through Coinbase.

Neither BlackRock nor its CEO, Larry Fink, has publicly disclosed any XRP holdings. Based on available information, there is no evidence that BlackRock currently holds XRP on its balance sheet.

Coinbase Partnership Does Not Mean XRP Buying

BlackRock partnered with Coinbase in August 2022 to give institutional clients access to crypto custody, trading services, and portfolio tools. 

But this does not support many digital assets and does not prove that BlackRock bought XRP.

No Plan to Launch BlackRock XRP ETF

After the launch of Bitcoin and Ethereum ETFs, many began to ask when the BlackRock XRP ETF would be launched.

However, BlackRock has clearly stated that it has “no plans to launch an Blackrock XRP ETF at this time.

BlackRock Is Exploring XRPL Infrastructure, Not Buying XRP

Ripple has teamed up with Securitize to let investors in BlackRock’s BUIDL fund quickly swap their fund shares for RLUSD. At the same time, Securitize is connecting its system to the XRP Ledger to widen access within the XRP network.

However, this does not require BlackRock to buy XRP itself.

Summary Table: Coinpedia’s Evidence Against the Theory

Claim Made by Theory	Coinpedia’s Counter-Evidence
BlackRock buying XRP secretly	No official confirmation or evidence
BlackRock planning XRP ETF soon	No official plans announced
Coinbase partnership confirms XRP purchase	Partnership only provides infrastructure access

Conclusion

Claim	Is BlackRock Buying XRP Through Coinbase?
Verdict	❌ False
Fact-Check by Coinpedia	As per Coinpedia research and a review, there is no verifiable evidence that BlackRock is buying XRP through Coinbase or holding large XRP reserves. The rumor started from speculation around Coinbase XRP outflows and BlackRock’s institutional crypto partnership.Until then, this claim remains unverified and speculative.