BlackRock has partnered with Securitize to launch the USD Institutional Digital Liquidity Fund (BUIDL). This innovative service aims to offer eligible investors the opportunity to leverage blockchain technology to earn US dollar yield.
The fund's debut attracted attention when a $100 million transaction involving the USDC stablecoin was executed on the Ethereum network. As a result, BlackRock's Ethereum address has become a magnet for meme coins and NFTs.
Blackrock owns meme coins
BlackRock introduced BUIDL to provide eligible investors with a channel to earn profits in USD through blockchain. This business represents a major departure from traditional investment mechanisms. In fact, it promises to redefine the financial system.
“This is the latest advancement in our digital assets strategy. We are focused on developing solutions in the digital assets space that help solve real-world problems for our clients.” BlackRock Digital Assets Director Robert Mitchnick said.
The strategic move into the cryptocurrency market was highlighted by a notable transaction of $100 million USDC. Presumably, this fund will serve as the financial foundation for his BUIDL.
The cryptocurrency community's reaction to BlackRock's efforts was swift and vivid. In fact, the fund's Ethereum wallet, identified by the address 0x13e003a57432062e4EdA204F687bE80139AD622f, has become a magnet for airdrops of meme coins and NFTs. Among these digital assets, four meme coins stand out.
- DETF Token (DETF), 250,000 tokens worth $15,385.66;
- Realio Network (RIO), consisting of 10,000 tokens worth approximately $13,800.10;
- unshETHing_Token (USH), 500,000 total tokens, estimated at $12,749.20,
- and Shina Inu (SHI) reaches 9,197,214,541 tokens worth $9,165.50.
Read more: 7 hot meme coins and altcoins that will be trending in 2024
BlackRock is ushering in a new era of investing that combines the rigor of traditional finance with the dynamism of blockchain technology, and a decision on whether to hold or sell these meme coins is still pending.
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