BlackRock’s recent moves in cryptocurrency include investments in tokenized funds, Bitcoin ETFs, and blockchain-based finance. Here’s a breakdown of what they’re buying and why.

BlackRock isn’t directly “buying” cryptocurrencies like Bitcoin or Ethereum. Instead, they’re expanding into crypto markets by offering tokenized financial products, such as the BUIDL fund (now on multiple blockchains like Aptos, Arbitrum, and Polygon) and the iShares Bitcoin Trust (IBIT). These vehicles let clients access blockchain-based investments or Bitcoin exposure via traditional finance structures.

They’ve also reportedly considered buying stakes in crypto-heavy asset managers, like Millennium, a major holder of Bitcoin ETFs. While BlackRock itself isn’t hoarding crypto, its funds are attracting record inflows, signaling increased adoption of Bitcoin and blockchain tech among institutional investors.

Bottom line: BlackRock is building the infrastructure to bridge traditional finance with crypto, rather than making speculative plays on individual coins.