BlackRock Launches USD Institutional Digital Liquidity Fund (BUIDL)
BlackRock, in collaboration with Securitize, has unveiled the USD Institutional Digital Liquidity Fund (BUIDL). This groundbreaking offering presents qualified investors with an opportunity to generate US dollar yields by leveraging the power of blockchain technology.
The fund made waves when it executed a $100 million transaction using USDC stablecoin on the Ethereum network. Consequently, BlackRockโs Ethereum address attracted meme coins and NFTs.
BlackRock Now Holds Meme Coins
BlackRock introduced BUIDL as a means for qualified investors to earn returns on their US dollars through blockchain technology. This move signifies a significant departure from traditional investment methods and has the potential to redefine the financial system.
โThis 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,โ said Robert Mitchnick, BlackRockโs Head of Digital Assets.
The crypto community responded swiftly and enthusiastically to BlackRockโs foray into the crypto market. The fundโs Ethereum wallet, identified by its address 0x13e003a57432062e4EdA204F687bE80139AD622f, became a hub for meme coins and NFT airdrops. Notably, four meme coins stood out among these digital assets:
- DETF Token (DETF), consisting of 250,000 tokens valued at $15,385.66
- Realio Network (RIO), comprising 10,000 tokens worth approximately $13,800.10
- unshETHing_Token (USH), totaling 500,000 tokens estimated at $12,749.20
- Shina Inu (SHI), amounting to 9,197,214,541 tokens worth $9,165.50
BlackRockโs Decision: Hold or Sell Meme Coins?
As BlackRock embraces this new era of investment by combining the rigor of traditional finance with the dynamism of blockchain technology, the question remains: should they hold onto or sell these meme coins?
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