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BlackRock dives into Crypto Memecoins and NFTs flood in by crypto investors and enthusiasts.
Asset management giant BlackRock has dipped its toes into the crypto waters. The company recently deposited a staggering $100 million in USDC on the Ethereum blockchain, signaling its entry into the digital asset space. But that’s not all—crypto enthusiasts have seized the opportunity to send a flurry of memecoins and non-fungible tokens (NFTs) to a BlackRock-labeled wallet. The transfers range from the whimsical Bitcoin-based Ordinals Pepe (PEPE) coin to the intriguing CryptoDickbutts S3 NFT.
A Curious Wallet Emerges
The BlackRock wallet, which initially made a modest $200 USDC deposit on March 5, quickly escalated its crypto involvement. A $10 test deposit followed on March 15, and then, in a few blocks, the firm committed a whopping $99,999,960. The wallet now holds at least $40,000 worth of memecoins and NFTs—a testament to the growing interest in digital assets within the traditional finance sector.
A Diverse Collection
The anonymous crypto senders didn’t hold back. They showered BlackRock’s wallet with a variety of tokens. Among them, the unshETHing_Token (USH) and Realio Network (RIO) tokens stand out. The RIO token, a real-world asset tokenization coin, surged by 47% after being transferred to BlackRock. Additionally, the wallet received quantities of Mog Coin (Mog), VoldemortTrumpRobotnik-10Neko (ETHEREUM), and Shina Inu (SHI).
BlackRock’s Crypto Evolution
BlackRock’s journey into crypto has been marked by transformation. CEO Larry Fink, who once dismissed Bitcoin as an “index of money laundering,” has since changed his tune. The firm successfully launched a spot Bitcoin exchange-traded fund (ETF) in 2023, capturing substantial trading volumes. Now, BlackRock is venturing further by exploring the tokenization of financial assets on Ethereum. Their latest offering, the BlackRock USD Institutional Digital Liquidity Fund (tickered as BUIDL), allows eligible investors to earn U.S. dollar yields through Securitize Markets, LLC.
BlackRock dives into Crypto Memecoins and NFTs flood in Conclution
As the crypto landscape continues to evolve, BlackRock’s embrace of digital assets signals a significant shift in the financial industry. The once-skeptical giant is now navigating the crypto currents, riding the wave of innovation.
