BlackRock has selected Anchorage Digital Bank as an additional custodian for its digital asset products, including spot crypto exchange-traded products (ETPs). The move extends, according to a press release, an existing relationship between the two firms, with Anchorage already supporting BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL).
Anchorage Digital Bank is the only federally chartered digital asset bank in the U.S. Its inclusion in BlackRock’s custody network follows what both parties describe as a detailed due diligence process. BlackRock is currently the world’s largest issuer of spot crypto ETPs, managing around USD 50 billion in assets as of early April 2025.
The new mandate will see Anchorage provide custody for crypto assets tied to BlackRock’s products, as well as services such as settlement, staking, and participation in on-chain governance. Anchorage’s infrastructure includes segregated client asset storage, offline private key management, and systems designed to minimise operational risk.
Increasing demand
BlackRock’s decision to expand its custody provider network reflects increasing demand for digital asset exposure from both institutional and retail investors. According to the firm, the focus remains on working with service providers that can meet its operational and regulatory requirements.
The development underscores a growing shift within the post-trade environment, where institutional players are gradually integrating crypto into their broader investment and operational strategies. With Anchorage now formally included as a custodian for BlackRock’s crypto ETPs, the collaboration may signal a broader trend towards the institutionalisation of digital asset infrastructure.
