BlackRock diversifies crypto custodians to include Anchorage Digital – Ledger Insights
Anchorage Digital, the federally chartered digital asset bank, has expanded its relationship with BlackRock and will now provide custody services for some of the cryptocurrency that backs the BlackRock crypto ETFs. The iShares IBIT Bitcoin ETF is the largest crypto ETF, with a market capitalization of $44 billion. Until now Coinbase Custody Trust was the primary crypto custodian.
On the one hand, it’s a big win for Anchorage, which was already a custodian for BlackRock’s BUIDL tokenized money market fund. When the 11 spot Bitcoin ETFs launched simultaneously early last year, there were concerns about the concentration of crypto custody, with many of the ETFs using Coinbase.
Some noted that the SEC’s custody rule, SAB…
