Fidelity Selects Coinbase as Custodian for Cryptocurrency ETFs

BlackRock, the world's largest asset manager, has partnered with Anchorage, a fintech company, to offer a custody solution for Bitcoin and Ethereum-based exchange-traded funds (ETFs). The move marks a significant milestone in the development of the digital asset market, as it brings a major player in the traditional financial industry into the fold.

The partnership will allow BlackRock to provide a secure and compliant custody solution for institutional investors looking to invest in Bitcoin and Ethereum-based ETFs. Anchorage, which has received regulatory approval from the New York State Department of Financial Services (DFS), will provide the underlying custody infrastructure for the ETFs.

The move is seen as a major vote of confidence in the digital asset market, which has been plagued by concerns over custody and regulatory uncertainty. The partnership is expected to make it easier for institutional investors to gain exposure to Bitcoin and Ethereum, which have seen significant price volatility in recent months.

"This partnership is a game-changer for the digital asset market," said Dieter Jandetzka, CEO of Anchorage. "By partnering with BlackRock, we're bringing a level of institutional-grade custody and compliance to the market that was previously lacking."

The partnership is also seen as a major coup for Anchorage, which has been working to establish itself as a leading provider of digital asset custody solutions. The company has received regulatory approval from the DFS and has partnered with a number of major financial institutions, including Fidelity and Charles Schwab.

The move is also seen as a major opportunity for BlackRock to expand its offerings in the digital asset space. The company has been slowly building out its presence in the space, and the partnership with Anchorage is seen as a major step forward.

"This partnership is a significant milestone for BlackRock as we continue to expand our offerings in the digital asset space," said a BlackRock spokesperson. "We're excited to work with Anchorage to provide a secure and compliant custody solution for our clients."

The partnership is expected to be officially launched in the coming weeks, and is seen as a major step forward for the digital asset market.