Changpeng Zhao (CZ), the former CEO of Binance, has debunked viral claims that BlackRock, the world’s largest asset manager, filed for a staked Aster (ASTER) exchange-traded fund (ETF).
The link between Aster and CZ stems from his significant investment and public endorsement of the decentralized derivatives exchange, which has historically sparked substantial price rallies and speculation.
Sponsored
Did BlackRock File For An Aster ETF?
A social media post alleging that BlackRock filed for a staked ASTER ETF with the Securities and Exchange Commission (SEC) recently went viral on X (formerly Twitter). The post included what appeared to be a legitimate S-1 registration document, dated December 5, 2024, and cited an “iShares Staked Aster Trust ETF” along with BlackRock’s contact information.
The image circulated widely, inciting speculation about institutional investments in ASTER. However, it’s crucial to highlight that there is no substantive evidence of such a registration in official SEC filings. The document mimicked actual SEC filings so closely that it was initially challenging to discern its authenticity.
A closer examination of the image reveals it is photoshopped. The document details actually pertain to the iShares Staked Ethereum Trust ETF, a legitimate filing that BlackRock submitted on the same date. Moreover, the asset manager has clarified that its focus on crypto ETFs currently pertains only to Bitcoin and Ethereum.
CZ was quick to respond, taking to social media to debunk the misinformation. He cautioned his followers that even prominent figures in the crypto landscape can be misled.
“Fake. Even big KOLs get fooled once in a while. Aster doesn’t need these fake photoshopped pics to grow,” he wrote.
Sponsored
Significantly, the connection between CZ and Aster extends back some time. In September, he expressed support for the platform, and YZi Labs (formerly Binance Labs) holds a minority stake in the decentralized exchange (DEX).
In November, CZ disclosed that he had invested approximately $2 million in Aster tokens as a long-term commitment. This announcement led to a 30% surge in the ASTER token price, emphasizing his influence in the space.
ASTER Price Slips Despite Buyback Program
Despite recent efforts to bolster its value, the ASTER token is currently experiencing market challenges. On December 8, the project team announced a new accelerated Stage 4 buyback program, raising its daily token purchases to roughly $4 million, up from around $3 million previously.
“This acceleration allows us to bring the accumulated Stage 4 fees since Nov 10 on-chain more quickly, providing more support during volatile conditions. Based on current fee levels, we estimate reaching steady-state execution in 8–10 days. After that, 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 initiative has not translated into positive price momentum for ASTER, which saw a decline of nearly 4% over the past 24 hours, extending its recent losses.
At the time of writing, the altcoin was trading at around $0.93. Additionally, trading activity has weakened, with daily volume dropping by 41.80%.
