While traditional financial institutions once viewed cryptocurrencies with skepticism, BlackRock‘s dramatic entry into the Bitcoin market has fundamentally altered the investment landscape. The financial giant’s iShares Bitcoin ETF (IBIT) shattered records by amassing $10 billion in assets under management in just seven weeks—a sprint that left other ETFs in the dust. With daily inflows occasionally exceeding $600 million, IBIT quickly emerged as the premier vehicle for Bitcoin trading, outpacing even Grayscale’s long-established GBTC.
BlackRock isn’t just dipping its toes in the crypto waters—it’s doing a cannonball. The firm now holds a staggering 2.7% of Bitcoin’s total supply, worth over $60 billion. That’s like suddenly becoming one of the largest property owners in a neighborhood that most financial institutions wouldn’t even drive through a few years ago. This remarkable achievement surpassed the previous record held by SPDR Gold Shares, which took over two years to reach the same $10 billion milestone.
In a strategic move that reinforces its commitment to cryptocurrency, BlackRock recently announced a partnership with Anchorage Digital as an additional custodian for its Bitcoin assets. This doesn’t mean Coinbase is getting the boot—rather, BlackRock is adding a backup goalkeeper to its team. Think of it as having both a spare tire and roadside assistance for your expensive car; you hope you won’t need either, but you’ll sleep better knowing they’re there. This move aligns with the broader trend of DeFi innovation that’s reshaping financial services beyond traditional banking infrastructure.
The dual-custodian model provides essential redundancy as BlackRock’s Bitcoin holdings continue to grow. Anchorage’s federally chartered status adds another layer of regulatory compliance, addressing concerns about secure storage of private keys and operational risk management. The partnership follows a new master custody agreement established on April 8, 2025, between BlackRock Fund Advisors and Anchorage Digital.
This heavyweight endorsement has sent Bitcoin prices soaring beyond $100,000, transforming market perceptions of cryptocurrency as a legitimate asset class. Financial advisors who once avoided crypto conversations are now incorporating Bitcoin allocations into client portfolios.
BlackRock’s Bitcoin strategy isn’t just changing investment portfolios—it’s reshaping the financial narrative around digital assets, challenging long-held perceptions of Bitcoin as merely speculative and volatile. As institutional adoption accelerates, the cryptocurrency market seems poised for a new era of mainstream acceptance.
