Blackstone’s $1 Trillion Bet: Bitcoin Sneaks Into Institutional Giant’s Portfolio

Wall Street’s sleeping giant wakes up to crypto. Blackstone—the $1 trillion asset manager that once dismissed Bitcoin as ’rat poison’—now holds the digital asset in its portfolio. No press release, no fanfare—just a quiet nod to inevitability.

Institutional adoption isn’t coming. It’s already here. And the suits didn’t even need their Goldman Sachs training wheels this time.

Funny how a 300% yearly ROI cuts through Wall Street’s ’prudent risk management’ faster than a hedge fund liquidating its yacht portfolio.

Blackstone’s investment in Bitcoin ETFs

A SEC filing dated Tuesday, May 20, 2025, has revealed that Blackstone’s Alternative Multi-Strategy Fund holds 23,094 shares of the iShares Bitcoin Trust ETF.

BlackRock‘s iShares bitcoin Trust ETF holds and reflects the performance of Bitcoin’s price. As of May 19, 2025, the IBIT ETF’s net asset value (NAV) stood at $59.75, with total net assets amounting to approximately $66.6B and a reported balance of 636,120.5 BTC.

Blackstone’s investment in the iShares Bitcoin Trust ETF shows that the company is taking a measured approach to gaining exposure to Bitcoin while avoiding the risks associated with direct ownership of the cryptocurrency, such as custody and regulatory compliance.

Institutional adoption of Bitcoin

Blackstone’s May 20 SEC filing revealing its investment in the iShares Bitcoin Trust ETF is the latest in a trend of digital assets integration into mainstream financial portfolios. Corporations typically use ETFs like Blackrock’s iShares Bitcoin Trust as a regulated and accessible path to participate in the cryptocurrency market.

Strategy, which currently holds the position as the world’s largest corporate holder of Bitcoins, also serves as a vehicle for corporations and public funds to gain exposure to Bitcoin.

The company functions as a go-between for investors looking for exposure to cryptocurrencies while protecting themselves from the risks of directly holding these digital assets.

Institutional interest in Bitcoin took off after the SEC’s approval of multiple spot Bitcoin ETFs, such as the Grayscale Bitcoin Trust which converted into a spot Bitcoin ETF in January 2024, the ARK 21Shares Bitcoin ETF, ProShares Bitcoin ETF and others.

The involvement of major financial institutions like Blackstone in cryptocurrency investments also contributes to increased market stability and legitimacy.

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