- BlackRock makes a move into the meme coin and NFT space, holding at least $40,000 worth of such assets in a suspected wallet linked to a new tokenization fund.
- Following the launch of its BlackRock USD Institutional Digital Liquidity Fund, it received a $100 million deposit in USD Coin (USDC) on the Ethereum blockchain.
In an interesting development, the world’s largest asset manager BlackRock has emerged as the holder of at least $40,000 worth of meme coins and non-fungible tokens (NFTs) following the discovery of one of its suspected wallets linked to a new tokenization fund.
According to data, a deposit of $100 million in USD Coin (USDC) was recorded on the Ethereum blockchain on March 15, just one day after the company filed to launch its BlackRock USD Institutional Digital Liquidity Fund in partnership with San Francisco-based asset tokenization firm Securitize, as reported by Crypto News Flash.
Since March 19, various unnamed crypto users have transferred at least 40 coins and 25 NFTs to the BlackRock-associated address. These transactions included assets ranging from Bitcoin-based Ordinals Pepe (PEPE) coins to a CryptoDickbutts S3 NFT.
Among the tokens sent to BlackRock were 500,000 unshETHing_Token (USH) and 10,000 Realio Network (RIO) tokens, with respective values of $13,755 and $11,600. Notably, the value of RIO tokens surged by 47% following the transfer to BlackRock, as per CoinGecko data.
Additionally, BlackRock received substantial quantities of Mog Coin (Mog), VoldemortTrumpRobotnik-10Neko (ETHEREUM), and Shina Inu (SHI). Notable NFTs such as Chungos and KaijuKingz were also sent to the asset manager.
Records indicate that the BlackRock address initially made a $200 USDC deposit on March 5, followed by a $10 test deposit on March 15. After that, a substantial $99,999,960 deposit was made shortly thereafter, according to data from Etherscan.
BlackRock’s Tokenization Move With BUIDL Token
In another development, BlackRock officially launched a tokenized asset fund on the Ethereum blockchain network.
Named the BlackRock USD Institutional Digital Liquidity Fund, the fund is represented by the blockchain-based BUIDL token and is fully backed by cash, U.S. Treasury bills, and repurchase agreements. Yield generated from the fund will be distributed daily to token holders via blockchain channels, according to a press release. This is yet another major move from the asset manager after its successful launch of IBIT Bitcoin ETF, reports Crypto News Flash.
Securitize has been appointed as the transfer agent and tokenization platform for the fund, while BNY Mellon will act as the custodian of its assets, as disclosed by BlackRock. Other participants in the fund’s ecosystem include BitGo, Coinbase, Anchorage Digital Bank NA, and Fireblocks.
BlackRock’s recent announcement about venturing into yield-bearing stablecoins on the Ethereum blockchain has sparked considerable enthusiasm in the crypto community. Seen as one of the most optimistic developments in the crypto space, this initiative marks a significant stride toward the mainstream acceptance of digital assets.
The press release also mentions that BlackRock made a “strategic investment” in Securitize. However, specific details regarding the terms of the agreement were not disclosed by the firm. Robert Mitchnick, BlackRock’s Head of Digital Assets, said:
“This is the latest progression of our digital assets strategy. We are focused on developing solutions in the digital assets space that help solve real problems for our clients, and we are excited to work with Securitize”.
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