On May 20, Blackstone, the world’s largest alternative asset manager, made its first move into crypto markets, purchasing shares in BlackRock’s iShares Bitcoin Trust (IBIT), a spot Bitcoin exchange-traded fund.

According to a filing with the U.S. Securities and Exchange Commission, Blackstone acquired 23,094 IBIT shares as of March 31, valued at approximately $1.08 million.

Prior to that, shares of Indonesian fintech firm DigiAsia Corp surged by over 91% on May 19, after the Nasdaq-listed company announced plans to raise $100 million to initiate Bitcoin purchases as part of a new treasury strategy.