BlackRock Expands Digital Asset Division with Four Senior Hires

The asset management firm has listed four new positions on its website, including a legal counsel role focused on providing guidance for ETF launches.

Key Points:

• BlackRock has opened four new digital asset job positions, indicating a broader commitment to crypto beyond its Bitcoin and Ethereum ETFs.

• The hiring spree aligns with the growing momentum in tokenized finance, where BlackRock’s $1.7 billion BUIDL fund remains a dominant player.

• While competitors explore ETFs for Solana, XRP, and Litecoin, BlackRock has remained tight-lipped about its future crypto product offerings.

BlackRock is expanding its digital asset team as interest in the sector continues to rise among Wall Street institutions.

Since President Donald Trump took office, major financial institutions have increasingly expanded their involvement in crypto. BlackRock, a longstanding leader in the space among traditional financial firms, appears to be gearing up for further growth.

On Wednesday, the asset manager listed four new positions on its digital asset team: Director of Digital Assets, Director of Regulatory Affairs, Vice President for Digital Asset and ETF Legal Counsel, and Associate for Digital Asset.

Three of these roles are based in New York, while one is in Atlanta. The job descriptions remain broad, offering little insight into BlackRock's specific plans for future crypto initiatives.

For the legal counsel role, BlackRock is looking for someone to assist with the launch of future crypto exchange-traded funds (ETFs). So far, the firm has introduced two spot ETFs: the iShares Bitcoin Trust (IBIT) and the iShares Ethereum Trust (ETHE).

While other issuers have applied to launch funds for assets like Solana (SOL), XRP, and Litecoin (LTC), BlackRock has not revealed any plans to follow suit.

Beyond ETFs, the asset manager has been deeply invested in tokenization, quickly establishing itself as a key player in the space. Its tokenized money market fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), has amassed $1.7 billion since its 2023 debut, making it the largest tokenized fund in the market.