BlackRock Boosts Bitcoin ETF with New Custodian Anchorage Digital
On April 7, 2025, BlackRock added Anchorage Digital as a second Bitcoin custodian for its iShares Bitcoin Trust (IBIT) ETF, expanding its custodial framework alongside Coinbase. Revealed in a Form 8-K filing, this move strengthens risk mitigation as IBIT’s Bitcoin holdings grow amid rising institutional demand.
The new Master Custody Service Agreement with Anchorage, a federally chartered digital asset bank, creates a dual-custodian model. While Coinbase remains the primary custodian, Anchorage stands ready as a backup, using cold storage and maintaining insurance to enhance security.
No assets have shifted yet – Anchorage is a contingency plan. This setup ensures operational redundancy, critical for IBIT, one of the top-performing Bitcoin ETFs since its launch, with massive inflows driving its success.
BlackRock’s choice of Anchorage, regulated by the Office of the Comptroller of the Currency (OCC), signals a focus on compliance and resilience. Analysts see this as preparation for larger Bitcoin reserves and a hedge against potential disruptions.
For now, IBIT’s strategy, fees, and operations stay unchanged. But this custodial expansion hints at BlackRock’s long-term vision – could it reshape institutional trust in crypto ETFs?
FAQs
❓Why did BlackRock add Anchorage Digital as a custodian?
The U.S.-China tariff war sparked panic, dropping Bitcoin below $75,000.
❓Does Anchorage replace Coinbase for IBIT?
A global growth shock from tariffs, crashing crypto, with a 30% chance.
❓What’s special about Anchorage Digital?
A 55% chance with negotiations by June; 15% if tensions ease soon.
❓Will this change IBIT’s Bitcoin holdings?
Yes, if the economy weakens, but no action is certain yet.
❓Why should investors stay patient?
Volatility rules now; resolution or Fed help may lift crypto later.
