Notable meme coin transactions have been seen in the new cryptocurrency portfolio of BlackRock, one of the world’s largest asset managers.
BlackRock recently included a fund created with Securitize in a new document submitted to the US Securities and Exchange Commission (SEC).
Shortly after, BlackRock-affiliated wallet made its initial preparation, drawing 100 million USDC Coins (USDC) from stablecoin issuer Circle.
According to data provided by the on-chain analysis platform Lookonchain, this BlackRock-linked wallet recently started pouring in various altcoins and meme coins.
Some of these meme coins and altcoins include projects like Decentralized ETF (DETF), Pepe (PEPE), unshETHing_Token (USH), and Realio (RIO). These projects experienced increases of up to 10% as a result of the influence of the BlackRock wallet.
None of these investments were made by BlackRock, and the 100 million USDC in the wallet still remains inactive.
On the other hand, the meme coin projects trying to draw attention attempt to gain recognition and hype by sending a certain amount of assets to BlackRock’s wallet.
Similar situations have occurred in the past, with some meme coin projects successfully attracting attention by sending a large amount of assets to the wallet of Ethereum founder Vitalik Buterin. It is also possible for institutional wallets like BlackRock to be used as a “token burn address” assuming that the company will not sell.
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