After essentially leaving his brother for dead, Aemond steals Aegon’s Valyrian steel dagger for deeper selfish purposes in House of the Dragon season 2. In House of the Dragon season 2, episode 4’s ending, the Battle at Rook’s Rest comes to an end following the deaths of Princess Rhaenys Targaryen and Meleys, signaling a victory for Aegon, Aemond, Criston, and Team Green. However, the Greens’ victory isn’t a runaway, as King Aegon II Targaryen’s fate is left in question after he’s burnt by Vhagar and crashes into the trees below with Sunfyre.

Shockingly, Aegon’s fate isn’t caused by an attack from Rhaenys. Instead, Aemond tries to kill Aegon and Sunfyre with Vhagar, treacherously sending his brother and dragon to what he thought would be their deaths. After defeating Rhaenys, Aemond takes Vhagar to where Aegon and Sunfyre lie immobile and on the verge of death. As Criston Cole walks up to Aegon’s body, he sees Aemond with an unsheathed sword hovering closer to the King. When Cole makes him stop, Aemond silently takes Aegon’s Valyrian steel dagger and walks away, teasing massive consequences for Team Green and the Targaryen prophecy engraved on the blade.

Aemond Stealing The Catspaw Dagger From Aegon Gives Him A Legitimate Valyrian Steel Targaryen Blade

Aemond’s legitimacy and ferocity in House Targaryen increases with the catspaw dagger

While he also had the Targaryens’ Valyrian steel sword Blackfyre to choose from on Aegon, Aemond took the catspaw dagger that would later play a major role in Game of Thrones to kill the Night King. Aemond likely chose the dagger because he already possesses a sword and understands that Blackfyre is most commonly held by the Targaryen king. Therefore, Aegon and other members of his council would presumably be less interested in the dagger being stolen than Blackfyre. By Aemond’s logic, Aegon is already incapacitated and perhaps even dead, so why would he need both a Valyrian steel dagger and sword on his person being unused?

Ultimately, Aemond takes the Valyrian steel dagger because it increases his sense of legitimacy and power within House Targaryen. The Targaryens’ Valyrian steel blades are typically passed down by inheritance or gifts from their former owner, so Aemond likely feels slighted that King Viserys never gave him one of the weapons deemed worthy of the greatest Targaryen warriors. Like King Jaehaerys I Targaryen giving Dark Sister to Daemon for his skills in battle, Aemond feels that he deserves a Valyrian steel weapon as a token for his proven battle expertise. After all, Aemond has taken down Lucerys, Rhaenys, and Aegon, whereas Aegon is constantly undermined as a warrior.

Known Owner Of The Catspaw Dagger
How The Character Came Into Possession Of The Dagger

Lord Aenar Targaryen
First known owner

King Aegon I Targaryen
Inherited after Aenar’s death

King Jaehaerys I Targaryen
Likely inherited after King Maegor the Cruel’s death

King Viserys I Targaryen
Inherited from King Jaehaerys I Targaryen

King Aegon II Targaryen
Interhited from King Viserys I Targaryen

Prince Aemond Targaryen
Stolen from King Aegon II at Rook’s Rest

Lord Petyr Baelish
Unknown; actual ownership of the dagger is debated

Lady Catelyn Stark
Taken after an assassination attempt

Lord Eddard “Ned” Stark
Given to by Catelyn Stark

Lord Petyr Baelish
Returned to after betraying Ned Stark

Bran Stark
Given to by Petyr Baelish

Arya Stark
Given to by Bran Stark

Within House Targaryen, Aemond sees himself as far more deserving than Aegon of possessing one of the most sacred family heirlooms and important Valyrian steel blades. Aemond rides House Targaryen’s biggest dragon, is a skilled warrior, can speak High Valyrian, knows the histories, and is respected by the council and realm, so why shouldn’t he have a Valyrian steel weapon once wielded by Aegon the Conqueror? Furthermore, the King is on the verge of death and Aemond is Aegon’s heir, meaning Aemond likely believes he’s just speeding along his inheritance.

Aemond rides the biggest dragon, is a skilled warrior, can speak High Valyrian, knows the histories, and is respected by the council and realm, so why shouldn’t he have a Valyrian steel weapon once wielded by Aegon the Conqueror?

Aemond Could Learn Aegon’s Song Of Ice & Fire Dream From The Valyrian Steel Dagger

The Song of Ice & Fire is engraved on the Valyrian steel dagger

Perhaps more terrifyingly for Rhaenyra and the rest of the realm, Aemond being in possession of the Valyrian steel dagger means he could accidentally discover Aegon the Conqueror’s Song of Ice and Fire dream. Viserys revealed to Young Rhaenyra in House of the Dragon season 1 that Aegon the Conqueror had Valyrian pyromancers engrave his prophecy onto the catspaw dagger. However, the Valyrian words are only revealed when the blade is held over a flame, which helps to preserve the prophecy as a secret for only Targaryen sovereigns and their heir.

House of the Dragon season 2, episode 4 emphasizes that King Aegon II Targaryen isn’t fluent in High Valyrian, so he likely wouldn’t have understood the prophecy even if he had put the dagger over flames. This isn’t the case for Aemond, who cleverly insults Aegon about his sobriquet and Kingsguard in High Valyrian at a council meeting earlier that episode. If the dagger is lit by dragon flames or held over a fire, Aemond can unintentionally read Aegon’s dream, which could lead him to believe that he’s the prophesied Prince That Was Promised, or expose the secret dream to others.

House Of The Dragon May Have Just Changed An Important Part Of Aemond & Daemon’s Biggest Battle

A different blade may play a big role in the upcoming Battle Above the Gods Eye

Details about Baela having Dark Sister in House of the Dragon season 2 already suggested that the show is changing a key part of Daemon and Aemond’s upcoming duel, and the Valyrian steel dagger hints at further complications. In George R.R. Martin’s Fire & Blood book, Aemond and Daemon duel near Harrenhal in the Battle Above the Gods Eye, which culminates in the deaths of Aemond, Daemon, Vhagar, and Caraxes. One particularly interesting detail about their duel is that Daemon stabs Dark Sister through Aemond’s eye, which is still plunged into his corpse when later recovered.

However, Baela is teased to have Dark Sister in the show, suggesting it won’t be the blade Daemon plunges through Aemond’s eye during the Battle Above the Gods Eye. There’s been a mystery about how that moment with a Targaryen heirloom protruding from Aemond’s dead body would change, and the Valyrian steel dagger could be the thematically-fitting answer. Whether Daemon takes the catspaw dagger from Aemond in battle, comes into possession of it after Aemond reaches Harrenhal, or manages to obtain it in another way, the Valyrian steel dagger could now be the weapon that Daemon uses to kill Aemond in House of the Dragon.

New episodes of House of the Dragon season 2 release Sundays at 9 p.m. ET on HBO and Max.