Investment Titan Blackstone Makes First Crypto Move With $1M Bitcoin ETF Stake

Last Updated on May 21, 2025

Written by

Efe Bravo

Key Takeaways:

Blackstone made its first crypto investment with a $1.08M purchase of shares in BlackRock’s iShares Bitcoin Trust (IBIT).
The investment was included in Blackstone’s $2.63B Alternative Multi-Strategy Fund (BTMIX).
Additional small crypto-related positions included shares in Bitcoin Depot Inc. and the ProShares Bitcoin Strategy ETF.

Blackstone, one of the world’s largest alternative asset managers with $1.2 trillion under management, has made its first foray into the cryptocurrency market.

In a U.S. SEC filing dated May 20, the firm disclosed a $1.08 million investment in BlackRock’s iShares Bitcoin Trust (IBIT) as of March 31.

🇺🇸 $1 TRILLION BLACKSTONE JUST REVEALED BUYING #BITCOIN ETF FOR THE FIRST TIME IN HISTORY

THIS IS WILD!!! 🚀 pic.twitter.com/PvlIddtndp
— Vivek⚡️ (@Vivek4real_) May 20, 2025

The purchase included 23,094 shares and was added to its $2.63 billion Alternative Multi-Strategy Fund (BTMIX).

This move marks a notable shift for Blackstone, which had previously been skeptical about digital assets.

In 2019, CEO Steve Schwarzman expressed doubt over cryptocurrencies, saying he favored traditional, government-backed currencies and found the concept of crypto challenging to grasp.

Alongside the IBIT stake, Blackstone also invested $6,300 in Bitcoin Depot Inc. (BTM), a crypto ATM provider, and $181,166 in the ProShares Bitcoin Strategy ETF (BITO), acquiring 9,889 shares.

Though modest compared to its broader portfolio, this initial crypto allocation signals growing institutional interest in Bitcoin exposure, especially via regulated ETFs.

Blackstone’s cautious entry may also reflect a broader trend of traditional financial giants exploring digital assets while maintaining a risk-averse stance.

As of Q1 2025, Blackstone reportedly has $37 billion in investable capital on hand.