Blackstone, the largest alternative asset manager globally with around $1.2 trillion in assets under management, has entered the cryptocurrency market by investing in Bitcoin exchange-traded funds (ETFs).
The firm revealed the following holdings in a May 20 filing to the U.S. Securities and Exchange Commission (SEC):
- The iShares Bitcoin Trust ETF (IBIT) consists of 23,094 shares that are valued at approximately $1.08 million.
- ProShares Bitcoin Strategy ETF (BITO) has 9,889 shares worth about $181,166.
- Bitcoin Depot Inc. (BTM) has 4,300 shares totaling $6,300.
The investments were made by Blackstone’s Alternative Multi-Strategy Fund (BTMIX), which oversees around $2.63 billion in assets. The purchase comprises 23,094 shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT), currently valued at over $1.08 million.
Although the overall investment is small in relation to Blackstone’s large portfolio, the firm’s attitude toward digital assets shows a notable change. Blackstone historically has been wary about cryptocurrencies. CEO Stephen Schwarzman voiced doubts about Bitcoin in 2019, pointing out a taste for centralized currencies and trouble grasping the technology.
This move follows the institutional acceptance trend of the Bitcoin ETF trend.
Since April 9, 2025, BlackRock’s IBIT ETF has seen 20 straight trading days of inflows totaling over $46.1 billion.
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