Mysterious 'BlackRock Fund' Crypto Whale Trillions $PEPE After Making 10x Trading it
A mysterious cryptocurrency whale wallet under the Ethereum Name Service (ENS) domain blackrockfund3.eth has recently caught the attention of the community after trading numerous memecoins, including the recently launched $PEPE token.
According to blockchain analysis service Lookonchain, a wallet tied to the cryptocurrency whale recently withdrew 1.27 trillion PEPE tokens, worth around $2 million, from leading cryptocurrency exchange Binance. The fund had made $2.39 million in a $PEPE investment before.
In a strikingly profitable trade, the BlackRock Fund wallet made a windfall gain in PEPE after it bought one trillion units of the cryptocurrency in April 21, when it was trading at an average price of $0.0000002431, amounting to an investment of $244,000 at that time.
Just two weeks later, on May 5, BlackRock Fund divested their entire holdings of $PEPE at an average price of $0.000002627, raking in a staggering $2.63 million. The net profit from this transaction was approximately $2.39 million, representing an impressive ten-fold increase on the original investment.
The BlackRock Fund wallet is notably unlikely to be tied to the world’s largest asset manager BlackRock, which has nearly $10 trillion in assets under management and was founded back in 1988.
Larry Fink, Chairman and Chief Executive Officer of BlackRock, revealed earlier that the asset manager has been exploring the digital assets ecosystem, “especially areas most relevant to our clients such as permissioned blockchains and tokenization of stocks and bonds.”
Given Fink’s words, it’s unlikely BlackRock would trade memecoins . Rather, it has partnered with Coinbase to “provide institutional clients of Aladdin®, BlackRock’s end-to-end investment management platform, with direct access to crypto, starting with bitcoin, through connectivity with Coinbase Prime.”
Blockchain data shows that the blackrockfund3.eth entity is, nevertheless, well-funded. Across several different blockchains, its main wallet had, at its peak, over $250 million. The peak came shortly after it was created on April 12, as since then the entity has been sending funds to other addresses.
The address notably also holds a number of non-fungible tokens, from both the Nyan Cat and the Blocky Doge collections. The wallet has been active across a number of different blockchain networks.
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