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Key Takeaways
- Bitget CEO Gracy Chen says the exchange is talking with BlackRock and other Wall Street firms about Asian crypto distribution.
- Asia’s crypto transactions grew 69% year-over-year as of June 2025, the fastest growth of any region, per OECD data.
- BlackRock estimates even a 1% crypto allocation across Asian household wealth could drive nearly $2 trillion in new inflows.
Bitget Chief Executive Gracy Chen said the cryptocurrency exchange is in talks with several of the world’s largest financial institutions, including BlackRock, about expanding digital-asset distribution across Asia. Chen pointed to BlackRock’s tokenized exchange-traded funds as one example of a product Wall Street firms are looking to distribute more widely in the region.
Chen Points to Close Communication With BlackRock
Chen said she has been in direct contact with major institutional players to explore potential collaboration. Chen said in an interview:
“I’m talking to all the Wall Street giants to understand where they are coming from.”
Chen added that Bitget has “very close communication with BlackRock” specifically regarding distribution in Asian markets.
BlackRock Confirms Ongoing Engagement, Stops Short of Specifics
A BlackRock spokesperson confirmed the firm’s crypto exchange-traded products are already available in Asia and said BlackRock regularly engages with a broad range of participants across the digital-asset ecosystem. The spokesperson declined to comment on any specific expansion plans in the region.
Blockchain-based crypto asset transactions in Asia grew 69% year-over-year as of June 2025, the highest growth rate of any region tracked, according to a report from the Organization for Economic Cooperation and Development.
That growth underpins the broader push by global asset managers to expand crypto-linked product distribution in the region.
BlackRock Has Been Building Out Its Asian Digital-Asset Presence
BlackRock, which manages $15.3 trillion in client assets, has expanded its tokenized cash offerings this year with new blockchain-based money market products, and its head of digital assets, Robert Mitchnick, said last week that the macroeconomic case for Bitcoin is strengthening.
The firm has also been building out its Asian digital-asset operations more broadly, hiring a new digital-assets role in Singapore in December intended to influence its regional strategy and identify early opportunities.
Nicholas Peach, head of BlackRock’s Asia-Pacific iShares division, said earlier this year that even a 1% crypto allocation across Asian household wealth could drive nearly $2 trillion in new inflows into crypto markets. This estimate is based on roughly $108 trillion in total household wealth across the region.
Bitget’s User Base Gives It a Distribution Argument
Bitget has 125 million registered users globally, with roughly half based in East and Southeast Asia, according to Chen.
The company’s own first-quarter 2026 data shows 52% of its users hold both cryptocurrencies and traditional stocks. Chen cited this figure as evidence that crypto exchanges could serve as a distribution channel for asset managers targeting investors who no longer treat the two asset classes separately.
Coinbase Highlights Its Own Role as BlackRock’s Custodian
Coinbase serves as custodian for the majority of BlackRock’s Bitcoin and Ethereum exchange-traded products in the United States, according to Keith Grose, Coinbase’s UK Chief Executive. Grose said:
“Players like BlackRock are leading the way.”
Grose also noted that the firm was among the first to launch a Bitcoin exchange-traded product at scale and now holds substantial fund assets on-chain.
