BlackRock Adds Anchorage Digital as Crypto Custodian

BlackRock Inc. has added Anchorage Digital as its second digital-asset custodian alongside Coinbase Inc. to meet growing demand from both retail and institutional clients.

Previously, Coinbase acted as the sole crypto custodian for the asset manager’s Bitcoin and Ether exchange-traded products, the $48-billion iShares Bitcoin Trust ETF IBIT, and the $2.1-billion iShares Ethereum Trust ETF, or ETHA. Anchorage is backed by investors including KKR & Co., GIC, Andreessen Horowitz and Goldman Sachs Group Inc., and was last valued at over $3 billion.

“As demand for digital asset products increases, and as our footprint in ...