Catenaa, Thursday, April 17, 2025-BlackRock has selected Anchorage Digital, a digital asset trust bank, to serve as a custodian for some of the Bitcoin and Ethereum held by its exchange-traded funds (ETFs). The arrangement, confirmed by two Securities and Exchange Commission filings on Tuesday, will involve Anchorage safeguarding assets for BlackRock’s $45 billion iShares Bitcoin Trust ETF (IBIT) and its $1.8 billion iShares Ethereum Trust ETF (ETHA).
As a digital asset trust bank, Anchorage is authorized to hold cryptocurrencies on behalf of clients and specializes in services like staking, trading, and governance. BlackRock’s decision to partner with Anchorage reflects the firm’s ongoing risk management strategy and its growing presence in the digital asset space.
While BlackRock had previously appointed Coinbase as a custodian for its two crypto funds, the new agreement with Anchorage will not replace Coinbase’s role but adds a further layer of flexibility in managing its crypto holdings. BlackRock retains the discretion to decide how funds will be distributed between Anchorage and Coinbase.
Anchorage, which received a federal charter from the Office of the Comptroller of the Currency in 2021, has also provided custody services for other major asset managers. The company’s partnership with 21Shares, established in September 2024, focuses on spot Bitcoin and Ethereum ETFs. Furthermore, Anchorage began supporting tokens on the Aptos network in December, broadening its role in digital asset management.
