Former Binance CEO Qiao Changpeng (CZ) has debunked claims circulating online that the world’s largest asset management company, BlackRock, has filed for a staked ASTER exchange-traded fund (ETF).
Aster’s ties to CZ stem from CZ’s large personal investments and public support for decentralized derivatives exchanges, which have generated massive price increases and speculation in the past.
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Has BlackRock applied for the Aster ETF?
A social media post claiming that BlackRock has applied to invest in the ASTER ETF with the Securities and Exchange Commission went viral today on X (formerly Twitter). The post included what appears to be an official S-1 registration document dated December 5, 2024, citing “iShares Staked Aster Trust ETF” and providing BlackRock’s contact information.
This image went viral, sparking speculation about institutional developments regarding ASTER. However, it is important to note that there is no evidence of such registration in public SEC filings. The fake documents closely mimicked actual SEC filings, making them difficult to detect at first glance.
Still, if you look closely at the image, you’ll see that it’s been photoshopped. The document’s description is actually referring to the iShares Staked Ethereum Trust ETF, which is the actual application submitted by BlackRock on December 5th. Additionally, the asset manager has previously disclosed that its current focus on crypto ETFs is limited to Bitcoin and Ethereum.
CZ also immediately responded to debunk the false alarm. He warned his followers that even established cryptocurrency opinion leaders can be fooled.
“It’s fake. Even big KOLs get fooled sometimes. Asters don’t need these fake photoshopped photos to grow,” he wrote.
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Remarkably, CZ’s connection to Aster goes back a long way. In September, the executive announced his support for the platform. Additionally, YZi Labs (formerly Binance Labs) holds a minority stake in the DEX.
In November, CZ revealed that he personally purchased approximately $2 million worth of Aster tokens as a long-term investment. This caused the price of ASTER token to increase by 30%.
ASTER price falls despite buyback program
Meanwhile, the ASTER token is facing market headwinds despite the project’s latest buyback efforts. On December 8th, the team announced the launch of an accelerated Stage 4 buyback program, increasing daily token purchases to the equivalent of approximately $4 million, up from the previous pace of approximately $3 million.
“This acceleration will allow Stage 4 fees accumulated since November 10th to be brought on-chain more quickly, providing more support in volatile conditions. Based on current fee levels, we estimate that steady-state execution will be reached within 8-10 days. Thereafter, daily Stage 4 buybacks will continue at 60-90% of the previous day’s revenue until the end of Stage 4,” Aster posted.
So far, this movement has not led to upward momentum in prices. ASTER has fallen nearly 4% in the past 24 hours, extending its recent decline.
At the time of writing, the altcoin was trading at $0.93. Trading activity was also weak, with daily trading volume decreasing by 41.80%.
