BlackRock, the world’s largest asset manager, has appointed Anchorage Digital Bank N.A. as an additional cryptocurrency custodian for its iShares Bitcoin Trust ETF.
Anchorage Digital will serve as an additional cryptocurrency custodian for IBIT, according to a Form 8-K filing dated April 7.
This move introduces a dual-custodian model, with Anchorage Digital joining Coinbase, the existing custodian, to enhance the security and operational resilience of IBIT’s Bitcoin (BTC) holdings.
Anchorage Digital Bank N.A. is the only U.S. federally chartered digital asset bank, providing services such as digital asset custody, staking, settlement, and on-chain governance.
Higher demand for digital assets
The partnership allows BlackRock to leverage these services, reflecting the growing demand for digital asset products among both 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.”
This news comes as BlackRock recently 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.
