BlackRock, the world's largest asset manager, has announced the appointment of Anchorage Digital Bank N.A. as an additional cryptocurrency custodian for its iShares Bitcoin Trust ETF.
Partnership between BlackRock and Anchorage Digital
According to a Form 8-K filing dated April 7, Anchorage Digital will serve as an additional custodian for BlackRock's Bitcoin Trust ETF, introducing a dual-custodian model involving existing custodian Coinbase. This step aims to enhance the security and operational resilience of the ETF's Bitcoin assets.
Growing Demand for Digital Assets
The partnership allows BlackRock to leverage Anchorage Digital's services, reflecting the increasing interest in digital assets among retail and institutional clients. Robert Mitchnick, Head of Digital Assets at BlackRock, stated, “After a thorough evaluation, Anchorage Digital clearly meets these standards, and we are excited to be expanding our network of eligible digital asset service providers with the addition of Anchorage Digital.”
New Approvals and Opportunities for BlackRock
Recently, BlackRock received approval from the UK Financial Conduct Authority to operate as a crypto asset firm, allowing it to offer its Bitcoin ETP in the UK. The iShares Bitcoin ETP, trading under the ticker IB1T, began trading on Euronext Paris and Amsterdam with a temporary fee waiver.
The appointment of Anchorage Digital as an additional custodian for BlackRock's ETF highlights the growing interest and demand for digital assets in financial markets.
