BlackRock, in partnership with Securitize, has launched the USD Institutional Digital Liquidity Fund (BUIDL). This innovative offering aims to provide qualified investors an opportunity to earn US dollar yields by leveraging blockchain technology.
The fund’s debut took notice when a $100 million transaction involving USDC stablecoin was executed on the Ethereum network. As a result, BlackRock’s Ethereum address became a magnet for meme coins and NFTs.
BlackRock Now Holds Meme Coins
BlackRock introduced BUIDL, offering qualified investors a channel to earn returns on their US dollars via blockchain. This venture marks a significant departure from traditional investment mechanisms. Indeed, it promises to redefine the financial system.
“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,” Robert Mitchnick, BlackRock’s Head of Digital Assets, said.
The strategic maneuver into the crypto market was underscored by a notable transaction where $100 million in USDC. Presumably, the funds serve as the financial bedrock for BUIDL.
The crypto community’s response to BlackRock’s initiative was swift and vivid. Indeed, the fund’s Ethereum wallet, distinguished by its address 0x13e003a57432062e4EdA204F687bE80139AD622f, became a magnet for meme coins and NFTs airdrops. Among these digital assets, four meme coins have stood out:
- DETF Token (DETF), with 250,000 tokens valued at $15,385.66,
- Realio Network (RIO), comprising 10,000 tokens worth around $13,800.10,
- unshETHing_Token (USH), totaling 500,000 tokens, estimated at $12,749.20,
- and Shina Inu (SHI), amounting to 9,197,214,541 tokens worth $9,165.50.
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
As BlackRock embraces a new era of investment, combining traditional finance’s rigor with blockchain technology’s dynamism, the decision to hold or sell these meme coins still awaits.
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