BlackRock Enhances IBIT Bitcoin Trust with Anchorage Digital as Second Custodian

BlackRock has added Anchorage Digital Bank N.A. as a second Bitcoin custodian for its iShares Bitcoin Trust (IBIT), formalizing the agreement on April 7, 2025. While Coinbase remains the primary custodian, Anchorage will act as a secondary custodian, enhancing risk mitigation and operational redundancy. Anchorage will use cold storage for private keys and maintain insurance coverage. This move aligns with BlackRock's strategy to improve the resilience and scalability of IBIT, which has experienced significant inflows since its inception. The addition of Anchorage aims to provide greater structural flexibility and security for the trust's growing Bitcoin holdings.