Bitget in Talks with BlackRock for Asian Crypto Distribution: CEO
Bitget CEO Gracy Chen said the crypto exchange is in talks with Wall Street heavyweights, BlackRock included, about distributing crypto products across Asia. The pitch is simple: use Bitget's 125 million registered users as a doorway for traditional finance into the region's fast-rising digital asset market.
"I'm talking to all the Wall Street giants, understanding their starting point and how we can cooperate," Chen said in a CoinDesk interview. "With BlackRock, we have very close communication regarding distribution in the Asian market."
BlackRock didn't say much. A spokesperson said the firm's crypto exchange-traded products (ETPs) are already available in Asia and that it keeps talking with ecosystem participants, but the firm declined to comment on any specific expansion plans.
Asia's Crypto Trading Surges 69% YoY, Leading Globally
Asia's blockchain-based crypto transaction volume jumped 69% year-over-year as of June 2025, according to the OECD. That was the fastest growth rate of any region. Big shift.
- Asia blockchain crypto transaction growth: 69% YoY (OECD, June 2025)
- BlackRock estimates Asian household wealth: $108 trillion
- Potential inflows from 1% allocation: nearly $2 trillion
Nicholas Peach, BlackRock's APAC iShares head, laid out the math at Consensus Hong Kong 2026: if Asian household wealth sits around $108 trillion, then a 1% allocation to crypto could bring in nearly $2 trillion. "That number is not a temptation but a strategic necessity for any asset manager," Peach said.
BlackRock's Asian Digital Asset Push Starts with Hiring
BlackRock has been building out its Asian crypto presence quietly. In December 2025, it posted a new digital asset role in Singapore and said the person hired would help shape its Asia strategy and spot opportunities. That lines up with the partnership model Bitget is pitching.
Chen said about half of Bitget's 125 million users are in East and Southeast Asia. And Q1 2026 data adds another telling detail: 52% of users hold both crypto and traditional stocks. "These dual-asset holders are exactly the target clientele asset managers want," Chen said. "They no longer see crypto and traditional finance as separate worlds, and exchanges become the most direct touchpoint."
Coinbase's Custody Role: A Precedent
In a separate CoinDesk interview, Coinbase UK CEO Keith Grose said Coinbase already handles custody for most of BlackRock's Bitcoin and Ethereum ETPs in the US. "Players like BlackRock are leading the charge," Grose said. "They were the first to launch a massive Bitcoin ETP, and now they're managing large funds on-chain."
Grose's comments point to where this is heading: the question is no longer "can we cooperate?" but "how do we divide roles?" Custodians, asset managers, and distribution channels all have money to make.
Regulatory Variables in Taiwan and Asia
If the Bitget-BlackRock talks turn into something real, Asian crypto markets may be in for a structural change. Exchanges would stop looking like pure trading venues and start acting as distribution endpoints for financial products. For Taiwan, two things stand out. First, the compliance status of VASPs (Virtual Asset Service Providers) will directly shape deals like this. Bitget's recent activities in Taiwan, including the FUTUREMODE event, suggest the region is already on its strategic radar. If Taiwan keeps pace with Asia's 69% crypto growth, Wall Street could treat it as a priority stop. Second, tokenized ETFs may reach Asian retail investors faster than traditional ETFs. Traditional ETFs depend on brokerage and banking systems. Tokenized versions could be traded straight from crypto wallets. So if BlackRock distributes tokenized ETFs through Bitget, the barrier for Asian retail investors to get institutional-grade products would fall sharply.
What to Watch
Watch for a few clear signals: an official statement from BlackRock about Asian crypto expansion, a formal signing between Bitget and any Wall Street firm, and whether regulatory frameworks in Asian countries, especially Taiwan and Singapore, can keep up with this cooperation trend.