Blackstone, the largest alternative asset manager in the world, has taken a significant step in the crypto sector, marking a change of course from its historical prudence towards digital assets.
According to a document filed on May 20 with the United States Securities and Exchange Commission (SEC), the company made its first direct investment in a Bitcoin ETF, purchasing shares of BlackRock‘s iShares Bitcoin Trust (IBIT).
Details of Blackstone’s crypto investment: IBIT, BITO, and Bitcoin Depot
As of March 31, Blackstone held 23,094 shares of IBIT, with a total value of approximately 1.08 million dollars.
This investment has been included within the Alternative Multi-Strategy Fund (BTMIX), which has a total asset of 2.63 billion dollars. It is the company’s first official exposure to Bitcoin through regulated financial instruments.
But Blackstone’s interest did not stop there. The company also purchased 9,889 shares of the ProShares Bitcoin ETF (BITO), valued at 181,166 dollars.
Additionally, he purchased a small stake in Bitcoin Depot Inc. (BTM), an operator of cryptocurrency ATMs, with 4,300 shares valued at 6,300 dollars.
Although the figures are relatively small compared to the 1.200 miliardi di dollari of assets managed by Blackstone, the gesture represents a clear signal: the financial giant is beginning to actively explore the world of cryptocurrencies.
The entry of Blackstone into the cryptocurrency market marks a clear change of direction compared to the past statements of its CEO, Steve Schwarzman.
In 2019, Schwarzman had expressed skepticism towards the sector, stating: “I grew up in a world where someone has to control currencies,” and admitting to having difficulty understanding the technology behind cryptocurrencies.
However, the growing demand for institutional access to digital assets has likely pushed even the most conservative to reconsider their positions.
Investment in regulated ETFs represents a safe and compliant way to gain exposure to Bitcoin, without having to directly face the technical complexity of managing cryptocurrencies.
IBIT: the leader among Bitcoin ETFs in the United States
The iShares Bitcoin Trust (IBIT), launched by BlackRock in January 2024, quickly established itself as the leading spot Bitcoin ETF in the United States.
According to the data from Farside Investors, in mid-May the fund recorded over 46.1 billion dollars in net inflows, without recording any outflow since April 9.
IBIT has significantly outperformed its competitors, such as the Fidelity Bitcoin ETF (FBTC). It has gathered 11.8 billion dollars, and the ARK ETF, which is at a standstill with 2.8 billion dollars in net inflows.
This success has consolidated BlackRock’s position as a leader in the cryptocurrency ETF sector. However, not all institutional investors maintain the same confidence in the long term.
The Wisconsin Investment Board, one of the first public pension funds in the United States to have exposure to Bitcoin, announced on May 15 that it had completely liquidated its 6 million IBIT shares in the first quarter of the year.
While the major US managers begin to move into the world of cryptocurrencies, international companies are also adopting similar strategies.
On May 19, the shares of the Indonesian fintech DigiAsia Corp increased by over 91% following the announcement of a plan to raise 100 million dollars to be allocated for the purchase of Bitcoin.
The company, listed on Nasdaq and based in Jakarta, has approved the creation of a treasury reserve in Bitcoin. Specifically, allocating up to 50% of future net profits to the purchase of the cryptocurrency.
Furthermore, DigiAsia is considering a capital increase of up to 100 million dollars to initiate its first acquisitions in Bitcoin.
This move reflects a growing trend among public companies. They see Bitcoin not only as a speculative asset, but also as an alternative capital management strategy.
At the forefront of this movement is Strategy, the company led by Michael Saylor. The latter has recently announced the intention to double its fundraising efforts up to 84 billion dollars to purchase additional Bitcoin.
A strong signal for the future of cryptocurrencies
The entry of Blackstone into the cryptocurrency market, albeit with initial modest investments, represents a paradigm shift for the traditional financial sector.
The adoption of regulated instruments such as Bitcoin ETFs allows institutional investors to access the world of cryptocurrencies in a secure and compliant manner with the normative.
At the same time, the growing interest from international companies like DigiAsia shows that Bitcoin is gaining ground even as a corporate treasury management tool.
With the increase in institutional demand and the expansion of the supply of financial products linked to cryptocurrencies, 2025 could mark a turning point in the mainstream adoption of digital assets.
And if even giants like Blackstone start to move, the message is clear: the future of finance could be more digital than previously thought.
