BlackRock will accept memecoins, NFTs after depositing $100M USDC onchain
Asset management giant BlackRock now owns at least $40,000 worth of memecoins and nonfungible tokens (NFTs), after onchain slips sniffed out one of the wallets believed to be linked to a new token fund.
According to the data, March 15 marks a $100 million dollar coin (USDC) deposit on Ethereum — a day after the company filed to launch BlackRock's USD Institutional Digital Liquidity Fund in partnership with San Francisco-based asset-token firm Securities.
Anonymous crypto users have sent at least 40 coins and 25 NFTs to blackgram-account addresses since March 19, ranging from the Bitcoin-based Ordinal Pepe (PEPE) coin to the CryptoDickbutts S3 NFT.
Exactly 500,000 unshETHing_Token (USH) and 10,000 Realio Network (RIO) tokens were transferred to the $10 trillion asset manager, which recorded the largest price at $13,755 and $11,600 respectively.
Interestingly, the RIO token has squeezed 47% since its transfer to BlackRock, a real-world asset token coin, according to CoinGecko.
The Larry Fink-led firm has gained significant volume in Mog Coin (Mog), VoldemortTrumpRobotnik-10Neko (ETHEREUM) and Shina Inu (SHI).
Chungos and Kaijukingz were among the most popular NFTs sent to the asset manager.
According to the data, the BlackRock address first made a $200 USD deposit on March 5. The firm then deposited $99,999,960 a few blocks later before making another $10 test deposit on March 15, according to Eterscan.
Related: JPMorgan launches token platform, BlackRock among key clients: Report
BlackRock Fink has changed its stance on Bitcoin (BTC) and the blockchain industry since 2017, previously calling Bitcoin a “money laundering index.”
Since then, his attitude has changed significantly and BlackRock filed a lawsuit to acquire a Bitcoin exchange-traded fund (ETF) in June 2023, which has since been approved and is holding some of the largest volumes in the entire ETF market.
Fink and BlackRock are now looking to simulate financial assets on Ethereum.
“We believe the next step will be the tokenization of financial assets, and that means every stock, every bond. […] It's going to be in a whole book,” Fink said in a recent Bloomberg interview.
The BlackRock USD Institutional Digital Liquidity Fund will be ticked “BUIDL”.
It offers qualified investors the opportunity to earn US dollar income by registering for the Fund with Securities Market, LLC.
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