The 21-year-old returned to the Reebok Stadium on Wednesday after two months at Gigg Lane, and while he would have loved to keep him, it appears a move back to the SPL is beckoning.
Blackwell said: "Gregg Wylde has gone back to Bolton after his loan, and I believe he has gone to Hibs, either today (Wednesday) or tomorrow.
"I'd like to thank Gregg for all his work and for what he gave us, and also Bolton, who were outstanding.
"They couldn't have given us any more than they did and I'd like to put on record to Bolton, and Dougie Freedman in particular, how thankful we are."
Hibs manager Pat Fenlon earlier expressed his frustration over transfer speculation surrounding his club amid links with St Mirren midfielder Kenny McLean and Rochdale midfielder Jason Kennedy.
He added: "I've seen one or two of the stories about people we have been linked with, but I don't know where they have come from.
"It amazes me when you get linked with talking to people and offering pre-contracts to people when you haven't even looked at them.
"Anything we are trying to do, we will keep it in-house. As soon as there is anything to know, we will let the supporters know."