Anchorage Digital has confirmed it has been selected by BlackRock to provide custody services for the asset manager’s expanding suite of crypto investment products, including its spot Bitcoin ETF. The announcement comes as BlackRock continues to scale its digital asset operations amid rising institutional demand.
According to BlackRock’s Head of Digital Assets, Robert Mitchnick, the decision to onboard Anchorage followed a comprehensive vetting process aimed at identifying institutional-grade providers capable of supporting the firm’s growing digital footprint. Mitchnick emphasized that as the crypto investment landscape matures, robust custody infrastructure becomes increasingly critical.
Anchorage Digital, a federally chartered crypto bank regulated by the U.S. Office of the Comptroller of the Currency (OCC), joins Coinbase in BlackRock’s broader custody strategy. The move is part of the firm’s continued efforts to strengthen operational redundancy and enhance risk management across its crypto holdings.
BlackRock currently manages the world’s largest spot Bitcoin ETF—trading under the ticker IBIT—with approximately $44 billion in assets under management, according to The Block’s data dashboard. The firm also offers a spot Ethereum ETF and has expanded its partnerships with digital infrastructure providers to better serve the evolving needs of institutional investors.
Traditional Finance Deepens Ties with Crypto Custodians
BlackRock’s partnership with Anchorage Digital underscores the growing convergence between traditional finance and regulated crypto service providers. As institutional interest in spot crypto ETFs accelerates, asset managers are increasingly aligning with trusted custodians to meet rising investor expectations.
Anchorage’s role in supporting BlackRock’s iShares Bitcoin Trust reflects its growing stature in the institutional crypto services landscape. Co-founder and CEO Nathan McCauley noted that Anchorage’s federally regulated infrastructure is designed to support both present and future client needs—particularly as digital asset products become core components of institutional portfolios.
“By providing federally regulated crypto infrastructure, we are helping BlackRock to meet client demand for today and tomorrow,” McCauley said
The trend isn’t limited to BlackRock. In March, Cantor Fitzgerald, another major financial institution, also appointed Anchorage for digital asset custody. Anchorage’s regulatory status has been pivotal to these partnerships; the firm received a BitLicense from the New York State Department of Financial Services in October, enabling it to serve advisors and asset managers operating in the state.
The increasing overlap between legacy financial institutions and crypto-native custodians reflects a broader market shift. The rise of spot crypto ETFs has not only attracted new capital into digital assets but also helped legitimize the sector in the eyes of traditional investors. As more institutions seek secure exposure to Bitcoin and other cryptocurrencies, regulated custody solutions like those offered by Anchorage are expected to play a central role in shaping the next phase of financial infrastructure.
Quick Facts
- BlackRock has appointed Anchorage Digital as an additional custodian for its iShares Bitcoin Trust (IBIT).
- Anchorage Digital is a federally chartered digital asset bank regulated by the U.S. Office of the Comptroller of the Currency (OCC).
- The dual-custodian model aims to enhance the security and resilience of IBIT’s Bitcoin holdings.
