Blackstone, the world’s largest alternative asset manager with approximately $1.2 trillion in assets under management, has made its first foray into the cryptocurrency market. The firm disclosed in a May 20 filing with the U.S. Securities and Exchange Commission (SEC) that it holds 23,094 shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT), valued at approximately $1.08 million as of March 31, 2025.
This investment was made through Blackstone’s Alternative Multi-Strategy Fund (BTMIX), which manages around $2.63 billion in assets. In addition to the IBIT shares, Blackstone also reported holding 9,889 shares of the ProShares Bitcoin Strategy ETF (BITO), worth about $181,166, and 4,300 shares of Bitcoin Depot Inc. (BTM), a crypto ATM operator, valued at $6,300.
Despite branding itself as a leader in alternative investments, Blackstone has historically been cautious about entering the crypto space. In 2019, CEO Stephen Schwarzman expressed skepticism about cryptocurrencies, favoring centralized currency systems over decentralized ones.
Blackstone’s move comes amid a surge in institutional interest in Bitcoin ETFs. BlackRock’s IBIT has seen 20 consecutive trading days of inflows since April 9, 2025, accumulating over $46.1 billion in net inflows since its launch in January 2024. Other ETFs, such as Fidelity’s Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARK), have also experienced significant inflows, indicating growing institutional confidence in cryptocurrency as an asset class.
As of May 23, 2025, Bitcoin (BTC) is trading at approximately $109,456, reflecting a slight decrease of 0.01861% from the previous close. The intraday high reached $111,819, while the low was $108,322.
Blackstone’s entry into the crypto market, albeit modest, signifies a notable shift in institutional attitudes toward digital assets. As more traditional financial institutions explore cryptocurrency investments, the market may witness increased adoption and integration of digital assets into mainstream portfolios.
