Top spot Bitcoin ETF issuer BlackRock adds Anchorage Digital as custodian

Anchorage Digital said Tuesday that BlackRock has selected it to help with digital asset custody and support the asset manager's spot crypto ETFs, according to a statement.BlackRock Head of Digital Assets Robert Mitchnick said in a statement that the growing demand for crypto-based investment products requires his firm to choose additional partners."As our footprint in the ecosystem grows, we continue to expand our network of service providers with a focus on the highest quality institutional providers," he said. "After a thorough evaluation, Anchorage Digital clearly meets these standards." The global asset manager is the issuer of the world's largest spot Bitcoin ETF (ticker: IBIT, which has about $44 billion in assets under management, according to The Block Data Dashboard. BlackRock also has a spot Ethereum ETF. The Wall Street giant also already uses top U.S. cryptocurrency exchange Coinbase for custody.Anchorage supporting BlackRock represents one more example of the growing overlap between traditional and digital assets as institutions from both financial sectors continue to align over shared interests. The boom in spot crypto ETFs has not only brought in billions of dollars in fresh investment capital, it has also served to legitimize digital assets in the eyes of many traditional investors. Demand for crypto-based products like BlackRock's ETF is expected to grow.Anchorage bolstering ties"By providing federally regulated crypto infrastructure, we are helping BlackRock to meet client demand for today and tomorrow," Anchorage Digital co-founder and CEO Nathan McCauley said in a statement.Last month, financial services firm Cantor Fitzgerald also picked Anchorage Digital to help provide digital asset custody services. In October, the New York State Department of Financial Services (NYDFS) granted a BitLicense to an Anchorage subsidiary, allowing the firm to offer institutions in New York State secure and efficient crypto trading.The regulatory approval enabled Anchorage to partner with a broader range of institutions, including registered investment advisors (RIAs) and large asset managers. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.