BlackRock Now Owns Two Rocks NFTs: Unexpected Additions in the Crypto Space

by Giorgi Kostiuk

2 years ago

Made with AI

Unexpected NFTs in BlackRock Wallet
Impact on ETF Market
BUIDL Token Influence Expansion

BlackRock, one of the biggest ETF carriers in the crypto space, has become the owner of two Rocks NFTs. These NFTs were received in one of the company's public wallets over the past few days.

Unexpected NFTs in BlackRock Wallet

BlackRock, which has previously taken a more serious stance in cryptocurrencies by becoming an ETF issuer and releasing its RWA token named BUIDL, now also owns NFT-like inscriptions or Ordinals on the Bitcoin blockchain. One of the company's wallets was supplied with a black Rock NFT, followed by a white Rock NFT the next day. These random inscriptions targeted the largest ETF wallet among all crypto holders. As of August 24, BlackRock became the biggest holder of ETF reserves after Grayscale divested some of its holdings. The two Rocks NFTs landed into the wallet of the BlackRock IBIT ETF.

Impact on ETF Market

The known wallet of the BlackRock IBIT ETF has previously received other NFTs, hidden among serious financial transactions. These new NFTs can be visualized on NFTScan. Sending out NFTs or tokens has been a long-running practice in the crypto space, especially targeting the wallets of well-known players. The two Rocks inscriptions are numbered and represented on the Bitcoin blockchain. The wallet also contains other inscriptions and images, such as Inscription #75151663.

BUIDL Token Influence Expansion

While NFTs may be a form of minor cyber vandalism, BlackRock continues to bet on the space with real-world assets. The BUIDL token, tied to US T-Bills, expanded its supply to $514 million. It has already spread across 20 addresses, up from 18 previous holders. The token is also used as collateral, representing up to 25% of all tokenized government debt on the market, excluding stablecoins. In the past month, BlackRock redeemed $500,000 in USDC from its on-chain fund, sending the stablecoins back to Ondo Finance.

The recent connections of BlackRock wallets reveal that the crypto space remains unpredictable and uncensored, despite its ties to traditional finance and significant investments.

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