Blackstone Makes Quiet Crypto Bet: Invests in BlackRock’s Bitcoin ETF

The world’s largest alternative asset manager, Blackstone, has taken a cautious step into the crypto market by acquiring shares of Blackrock’s Bitcoin exchange-traded fund (ETF). The investment, valued at approximately $1.08 million, was disclosed in a May 20 filing and represents just a small fraction of Blackstone’s massive $1.2 trillion in assets under management. This marks the first time the company has publicly invested in cryptocurrencies.