From Yahoo Finance: 2025-04-09 16:30:00

BlackRock Inc. (BLK) partners with Anchorage Digital for iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA) custody, meeting increasing demand for crypto investments. Coinbase Global Inc. (COIN) previously held this role. Anchorage Digital Bank is now an additional custodian, per a press release issued by Anchorage.

BlackRock’s Robert Mitchnick states the addition of Anchorage Digital as a custodian reflects the firm’s commitment to quality service providers in the digital asset space. BlackRock has no immediate plans to transfer Bitcoin or Ether from the trusts to Anchorage Digital, citing ongoing risk management practices. The move reflects the firm’s growing presence in the digital asset world.

Anchorage Digital CEO Nathan McCauley expresses excitement about setting a new standard for tailored access to the digital asset class, providing federally regulated crypto infrastructure to meet client demands. Major clients of Anchorage include Apollo and 21Shares. IBIT reached a $10 billion milestone in assets, surpassing the Grayscale Bitcoin Trust ETF as the largest bitcoin fund, while ETHA holds around $1.8 billion in assets.

Cryptocurrencies experience market volatility, with Bitcoin prices down 18% and Ether plummeting 55% year to date. BlackRock remains optimistic about the long-term potential of digital assets, adding IBIT to its model portfolios when Bitcoin ETFs faced record outflows in February. The firm continues to expand its digital asset custody network to meet growing demand.

Source: etf.com.

Read more: BlackRock Adds a New Digital Asset Custodian