A wallet on Ethereum associated with a new institutional fund from asset manager BlackRock received a little over $100 million in USDC on Wednesday, blockchain data from Etherscan shows. That wallet now contains at least 48 different memecoins and 28 non-fungible tokens (NFTs) thanks to anonymous crypto users that took the opportunity to send the address a flurry of tokens in true degen fashion.
Blockchain sleuths tagged the wallet as being associated with BlackRock after linking it to the BlackRock USD Institutional Digital Liquidity Fund — a new tokenized fund on the Ethereum network that trades under the ticker BUIDL. The fund, launched in partnership with San Francisco-based Securitize Markets, will offer institutional investors the opportunity to earn US dollar yields through tokenized onchain investment products. Anchorage Digital Bank NA, BitGo, Coinbase, and Fireblocks are among the fund’s initial ecosystem participants, who will also act as infrastructure providers when it comes to things like custody and redemptions.
Currently, the wallet address holds 500,000 unshETHing_Token (USH) and 10,000 Realio Network (RIO) tokens, sent by anonymous users shortly after the wallet was discovered. Data from CoinGecko shows that RIO, which is a real-world asset tokenization coin, is up 47% since the transfers were made.
Users also flooded the wallet with tokens like Pepe (PEPE), Cramer Coin (CRAMER) and VoldemortTrumpRobotnik-10Neko (ETHEREUM). Some users also sent NFTs like Chungos, Tubby Cats, and KaijuKingz to the wallet address.