BlackRock clearly wants to take crypto seriously. Too bad it’s forever silly. - Blockworks

BlackRock CEO Larry Fink | World Economic Forum / Sikarin Thanachaiary/"Impressions at the Annual Meeting 2018″ (CC license) Ethereum, not even once. BlackRock has learned the hard way just how silly “crypto” can be in comparison to Bitcoin. Working with digital assets was a breeze when all BlackRock’s fund managers had to do was max bid bitcoin on Coinbase Pro on behalf of ETF shareholders. But Larry Fink (or whomever else in charge of BlackRock’s crypto adventures) threw a spanner in the works when they opted to launch a $100-million money market fund that exists entirely on Ethereum. It took only minutes for Crypto Twitter™ to name an Ethereum address tied to the fund, and even less time for the wallet to be drowned in low-quality memecoins and NFTs, most of which are valued at zero. While there is indeed $100 million USDC in BlackRock’s suspected Ethereum wallet, which aligns with its SEC filing, there’s now more — 100 other cryptocurrencies, definitely not purchased by BlackRock,

BlackRock CEO Larry Fink | World Economic Forum / Sikarin Thanachaiary/"Impressions at the Annual Meeting 2018″ (CC license) Ethereum, not even once. BlackRock has learned the hard way just how silly “crypto” can be in comparison to Bitcoin. Working with digital assets was a breeze when all BlackRock’s fund managers had to do was max bid bitcoin on Coinbase Pro on behalf of ETF shareholders. But Larry Fink (or whomever else in charge of BlackRock’s crypto adventures) threw a spanner in the works when they opted to launch a $100-million money market fund that exists entirely on Ethereum. It too