BlackRock, the world’s largest asset manager, has taken a bold step in strengthening its position in the crypto world. The firm revealed on Tuesday that it has selected Anchorage Digital as its crypto custodian. As announced, Anchorage Digital will help manage BlackRock’s growing list of digital investment products, including the largest spot Bitcoin ETF in the market. BlackRock Expands Its Crypto Partnerships Custody is one of the most important parts of crypto investing, as it involves keeping digital assets safe and secure. Robert Mitchnick, Head of Digital Assets at BlackRock, explained why the firm decided to do this. He said that as more investors demand crypto products, BlackRock needs more trusted partners to keep up with that growth. He added that Anchorage Digital meets the required standards after a thorough evaluation. Anchorage Digital is known for its strong, federally regulated crypto services. The firm joins Coinbase as a key player helping BlackRock manage and protect investor funds. The Rise of Crypto ETFs BlackRock is the issuer of IBIT, the world’s largest spot Bitcoin ETF . According to market data, the digital investment product holds about $44 billion in assets. BlackRock also manages a spot in Ethereum ETF , showing its deepening interest in crypto markets. The rise of spot crypto ETFs like BlackRock’s IBIT has brought billions of dollars into the crypto market. More importantly, it has made digital assets safer and more legitimate for traditional investors. Now, with Anchorage joining, BlackRock is widening its team to include more regulated and trusted crypto firms. This move is part of a larger effort to provide safe, institutional-grade access to digital assets. Anchorage Digital Gains Momentum Anchorage is not new to partnerships with large financial firms . Last month, Cantor Fitzgerald, a well-known financial services company, also selected Anchorage to help with digital asset custody. Anchorage is one of the few federally regulated crypto platforms in the U.S. Last October, the New York State Department of Financial Services (NYDFS) granted a BitLicense to Anchorage’s subsidiary. This allows the company to legally offer crypto services to institutions in New York, one of the strictest regulatory environments in the country. Nathan McCauley, Co-founder and CEO of Anchorage Digital said the partnership with BlackRock proves how important safe and regulated infrastructure is in crypto today. The post BlackRock Taps Anchorage Digital for Crypto ETF Custody appeared first on TheCoinrise.com .
