BlackRock USDC Onchain Deposit: Company Turns to Memecoin and NFTs

Crypto News – According to blockchain data from Etherscan, asset manager BlackRock placed slightly more than $100 million in USDC in an Ethereum wallet on Wednesday.

BlackRock USDC Onchain Deposit: Company Turns to Memecoin and NFTs

Thanks to anonymous cryptocurrency users who took advantage of the opportunity to send the address a flurry of tokens in typical degen form, that wallet now includes at least 48 different memecoins and 28 NFTs.

Since March 19, at least 40 coins and 25 NFTs, ranging from a CryptoDickbutts S3 NFT to the Bitcoin-based Ordinals Pepe (PEPE) coin, have been delivered to the BlackRock-label address by anonymous cryptocurrency users. The $10 trillion asset manager also received exactly 500,000 unshETHing_Token (USH) and 10,000 Realio Network (RIO) tokens, with the latter having the highest values at $11,600 and $13,755, respectively. Large amounts of Mog Coin (Mog), VoldemortTrumpRobotnik-10Neko (ETHEREUM), and Shina Inu (SHI) were also received by the Larry Fink-led company.

Traders Will Be Able to Earn Returns in US Dollars

With the use of tokenized onchain investment products, investors will be able to receive U.S. dollar yields through the fund, which was established in collaboration with Securitize Markets, located in San Francisco. Among the first ecosystem players in the fund are BitGo, Fireblocks, Coinbase, and Anchorage Digital Bank NA. These players will also serve as infrastructure suppliers for things like custody and redemption transactions.