In a small saucepan heat up the vegetable stock or bouillon and bring to boil. Blanch the asparagus in the stock (with the tips out of the water) until you can easily pierce the stalk with a knife (5-10 minutes).
Remove the asparagus from the stock and turn down the heat to keep it warm.
Slice the asparagus (leaving the tips full) and sauté in a large pan with a knob of butter, until they start to brown. Season with salt and pepper, then remove from heat. Keep the tips and few of the slices aside for later and blend the remaining asparagus in a mixer with a few tablespoons of stock, until you get a creamy sauce.
In the same pan, add the rice and toast at high heat for 2-3 minutes. Add the white wine and let it evaporate completely.
Turn down the heat to medium-low and add some of the vegetable stock, until the rice is covered. Add more stock once the liquid is absorbed.
After 10 minutes, add the asparagus cream to the rice and keep cooking for another 8-10 minutes, adding more stock or water when necessary.
When the rice is cooked (al dente), add the chopped cheese, the grated Parmigiano cheese, another knob of butter and mix well. The risotto should have a creamy consistency, not too stiff and not too loose.
Serve immediately, decorating with the asparagus tips you set aside.