Bitget, BlackRock Explore Crypto Expansion in Asia

Cryptocurrency exchange Bitget is holding discussions with major global financial institutions, including BlackRock, as traditional asset managers seek to expand their digital asset presence and product distribution across Asia.

Bitget CEO Gracy Chen told CoinDesk that the exchange is communicating with several Wall Street firms to explore potential collaboration opportunities. She specifically pointed to BlackRock, the world’s largest asset manager, and discussions surrounding the Asian distribution of tokenized exchange-traded products.

Chen said Bitget has maintained close communication with BlackRock regarding distribution opportunities in Asian markets. BlackRock confirmed that its crypto exchange-traded products are already accessible in Asia and said it routinely engages with participants across the digital asset ecosystem. However, the company declined to discuss specific plans for further regional expansion.

Asia has emerged as a major growth market for cryptocurrency. An OECD report showed that blockchain-based crypto asset transactions in the region increased 69% year over year as of June 2025, representing the fastest growth rate among global regions.

BlackRock, which manages approximately $15.3 trillion in client assets, has steadily expanded its digital asset business. The firm recently introduced additional blockchain-based money market products, while digital assets chief Robert Mitchnick has argued that the macroeconomic case for Bitcoin is strengthening.

BlackRock has also been increasing its presence in Asia. At Consensus Hong Kong 2026, Nicholas Peach, head of BlackRock’s APAC iShares division, estimated that allocating just 1% of Asia’s roughly $108 trillion in household wealth to cryptocurrency could generate nearly $2 trillion in new investment flows.

Bitget could provide another route for financial institutions seeking Asian crypto investors. The exchange has 125 million registered users worldwide, with approximately half located in East and Southeast Asia. According to Bitget’s first-quarter 2026 data, 52% of its users hold both cryptocurrencies and traditional stocks.

That overlap could make crypto exchanges increasingly valuable distribution channels as the boundaries between traditional finance and digital assets continue to narrow.

Coinbase, meanwhile, remains the custodian for most of BlackRock’s U.S. Bitcoin and Ethereum exchange-traded products, highlighting the growing connections between major asset managers and established cryptocurrency platforms.