BlackRock Adds Anchorage Digital as Custodian for Bitcoin and Ethereum ETFs

BlackRock Adds Anchorage Digital as Custodian for Bitcoin and Ethereum ETFs

BlackRock, the world’s largest asset manager, has expanded its digital asset custody framework by adding Anchorage Digital as a new custodian partner.

Previously relying solely on Coinbase, BlackRock has now adopted a dual-custodian approach to better support growing institutional and retail demand for digital asset exposure. The move is widely seen as part of BlackRock’s strategy to ensure greater security and operational resilience in its crypto asset management infrastructure.

With this shift, Anchorage will now co-manage custody for BlackRock’s flagship crypto products:

• The iShares Bitcoin Trust (IBIT), currently the world’s largest Bitcoin ETF with approximately $48 billion in AUM, and

• The iShares Ethereum Trust (ETHA), which has grown to around $2.1 billion.

Strengthening Infrastructure for Institutional Crypto Adoption

Robert Mitchnick, Head of Digital Assets at BlackRock, stated

“As BlackRock’s role in the digital asset ecosystem continues to expand, we are committed to working with top-tier custodial partners. Anchorage meets that high standard.”

Anchorage Digital is a regulated crypto-native custodian backed by leading global investors including Goldman Sachs, KKR, Singapore’s sovereign wealth fund GIC, and Andreessen Horowitz. The company is currently valued at over $3 billion.

Nathan McCauley, Co-founder and CEO of Anchorage, noted

“We are seeing increased momentum among U.S. ETF issuers to expand their portfolios with a wider range of crypto assets. Services such as staking and other value-added features are also expected to grow alongside.”

Institutional Confidence Grows Despite Market Volatility

Despite heightened volatility in the crypto market in early 2025, BlackRock’s ETFs have continued to gain investor trust. According to Bloomberg, IBIT has seen $2.6 billion in net inflows year-to-date, while ETHA has attracted $500 million over the same period.

This trend signals that institutional investors are prioritizing long-term structural growth and regulatory clarity over short-term price fluctuations. BlackRock’s decision to strengthen its custody setup reflects this broader shift toward institutional-grade infrastructure and compliance, marking a critical milestone in the ongoing institutionalization of digital assets.