BlackRock Levels Up: Adds Anchorage Digital to Beef Up Its Bitcoin ETF Game

Hang onto your hats, crypto fans! BlackRock, the heavyweight champ of asset management, just threw a major curveball by tapping Anchorage Digital Bank N.A. as the new sidekick for its iShares Bitcoin Trust ETF. That's right, they're doubling down on security!

According to a sizzling hot Form 8-K filing from April 7, Anchorage Digital is stepping up to the plate as the additional crypto custodian for IBIT. This isn't just a minor tweak; it's a game-changer!

Get this: we're now looking at a dual-custodian model where Anchorage Digital teams up with Coinbase, the original guardian, to supercharge the security and resilience of IBIT's Bitcoin stash. It's like having two superheroes watching over your digital treasure!

And who is Anchorage Digital, you ask? They're the only U.S. bank with a federal charter for digital assets, offering a full suite of services from custody to staking, settlement, and on-chain governance. They're the real deal!

Anchorage Digital is buzzing with excitement, tweeting about deepening their bond with BlackRock to meet the skyrocketing demand for digital assets from both retail and institutional clients. It's a match made in crypto heaven!

Higher demand for digital assets

This power move by BlackRock is all about tapping into Anchorage Digital's top-notch services to keep up with the insatiable appetite for digital asset products. The demand is real, and BlackRock is here to feed it!

Robert Mitchnick, the head honcho of Digital Assets at BlackRock, couldn't contain his enthusiasm, saying, "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." It's clear they mean business!

And if that's not enough to get your heart racing, BlackRock just got the green light from the UK Financial Conduct Authority to strut its stuff as a crypto asset firm. They're now ready to roll out their Bitcoin ETP in the UK, with the iShares Bitcoin ETP (ticker: IB1T) already making waves on Euronext Paris and Amsterdam, complete with a temporary fee waiver. The crypto world is on fire, and BlackRock is leading the charge!