Source: Cointelegraph
Original: “Blackstone Makes Its First Foray into Cryptocurrency, Purchasing $1 Million in Bitcoin (BTC) ETF”
Self-proclaimed as “the world’s largest alternative asset management company,” Blackstone has disclosed its first purchase related to cryptocurrency, acquiring shares in BlackRock’s spot Bitcoin exchange-traded fund (ETF).
However, according to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on May 20, 2025, Blackstone’s total investment amounts to only about $1.08 million—just a small part of the asset management company’s $1.2 trillion portfolio.
Blackstone reported that as of March 31, it held 23,094 shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT).
According to Google Finance, these IBIT shares were added to Blackstone’s alternative multi-strategy fund (BTMIX), which holds assets worth $2.63 billion.
The filing also shows that Blackstone purchased 4,300 shares of cryptocurrency ATM operator Bitcoin Depot Inc. (BTM) at a total cost of $6,300 and spent $181,166 to acquire 9,889 shares of ProShares Bitcoin ETF (BITO).
Despite calling itself an “alternative asset management company,” Blackstone has largely stayed away from cryptocurrency. In September 2019, Blackstone CEO Steve Schwarzman stated that he liked the concept of blockchain but found it “rather strange” to use it for currency.
“[I] grew up in a world where someone needed to control currency,” he said at the time.
He admitted to having little interest in cryptocurrency, citing the difficulty in understanding the technology.
Blackstone’s investment areas cover multiple aspects, including private equity, real estate, credit, infrastructure, hedge funds, and insurance solutions.
According to Blackstone’s website, as of March 31, it has $37 billion in investable capital.
Meanwhile, the Wisconsin Investment Board—one of the first state investment funds in the U.S. to provide Bitcoin exposure for retirees—reported on May 15 that it liquidated all 6,060,351 shares of IBIT in the first quarter, valued at $3.7 billion.
According to Farside Investors, BlackRock’s Bitcoin fund has seen no outflows for six consecutive weeks since April 9.
During this period, the fund recorded inflows for 20 consecutive trading days, with total net inflows exceeding $46.1 billion since its launch in January 2024.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARK) follow IBIT in historical net inflows, with $11.8 billion and $2.8 billion, respectively.
Related: New York City Mayor Eric Adams Establishes Cryptocurrency Advisory Committee
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