When BlackRock became involved with NFTs and memecoins, it became the center of attention in the market.
The recent attention that asset management behemoth BlackRock has received for its ties to memecoins and non-fungible tokens (NFTs) indicates a sea change in how it views digital assets. After creating a new tokenization fund, on-chain investigations showed that BlackRock currently has a memecoin and NFT portfolio valued at least $40,000.
There was a massive $100 million USD Coin (USDC) deposit on Ethereum on March 15, according to the statistics. The timing of this deposit was congruent with BlackRock’s filing to launch its USD Institutional Digital Liquidity Fund in partnership with Securitize, an asset tokenization company located in San Francisco.
A number of unidentified cryptocurrency users have sent forty coins and twenty-five NFTs to a company IP address since March 19. Unique NFTs such as CryptoDickbutts S3 are among these assets, as are Ordinals Pepe (PEPE) coins based on Bitcoin. Notably, the business also received a substantial amount of 10,000 Realio Network (RIO) tokens and 500,000 unshETHing_Token (USH), with RIO reaching a top value of $11,600 and USH reaching a peak value of $13,755.
According to CoinGecko, real-world asset tokenization’s RIO token saw a 47% rise after its transfer to BlackRock. Moreover, the asset manager was also gifted substantial quantities of Shina Inu (SHI), VoldemortTrumpRobotnik-10Neko (ETHEREUM), and Mog Coin (Mog).
Among the assets delivered to the business were notable NFTs like Chungos and KaijuKingz. According to the records, the BlackRock address started making cryptocurrency deposits on March 5 with a $200 USDC transaction and a $10 test deposit on March 15. Very soon after that, data from Etherscan shows a large deposit of $99,999,960.
BlackRock’s CEO and chairman, Larry Fink, has changed his mind on blockchain and Bitcoin many times. Despite his initial skepticism, Fink now calls Bitcoin a “index of money laundering.” Nevertheless, his position has changed, and in June 2023, BlackRock applied for a spot Bitcoin ETF, which has since been approved and has seen substantial trading volumes.
During an interview with Bloomberg, Fink shared the company’s goals for the Ethereum-based tokenization of financial assets, including the eventual listing of all stocks and bonds on a single ledger. This is consistent with “BUIDL,” the ticker symbol for BlackRock USD Institutional Digital Liquidity Fund, the firm’s most recent endeavor.
Participation in this fund is open to qualified investors via Securitize Markets, LLC, and it provides yields in U.S. dollars. An important shift in the company’s investment strategy has been its entry into asset tokenization, memecoins, and NFTs; this reflects the increasing prominence of digital assets in the conventional financial sector.
Also Read: Polygon PoS Sidechain Has Supported Dencun Upgrades Since Napoli Hard Fork March 21, 2024
Wallets