BlackRock has forged a strategic partnership with Anchorage Digital to provide crypto custody services. This move aims to meet the growing demand from both retail and institutional investors seeking exposure to digital assets. 5th April 2024, BlackRock announced this partnership as one of the world’s largest asset management firms with $11.6 trillion in assets under management. The company also ranks among the top providers of crypto exchange-traded products (ETPs), holding $45.3 billion worth of Bitcoin and $1.7 billion worth of Ether, according to Arkham data. Anchorage, the only federally chartered cryptocurrency bank in the US, will offer BlackRock access to staking and settlement services beyond custody. Currently, Anchorage supports BlackRock’s BUIDL fund – a $2 billion tokenized fund backed by U.S. Treasuries and focused on real-world assets. 10th Jan 2024 marked BlackRock’s first foray into digital asset custody as they partnered with Coinbase for the Bitcoin held in their iShares Bitcoin Trust ETF. Despite challenges, BlackRock’s crypto investments have seen significant growth, demonstrating a strong belief in the potential of this market.