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Blockstream
Adam Back's Blockstream builds Bitcoin infrastructure from protocol to product—satellites, sidechains, and now institutional asset management funds.
Blockstream
Blockstream was founded in 2014 by Adam Back, along with Erik Svenson, Pieter Wuille, and others, as a bet that Bitcoin could serve as a base layer for a new financial stack. The firm builds infrastructure for the Bitcoin ecosystem, positioning itself as a developer of core protocol technology rather than a trading operation. Its creation stemmed from a view that Bitcoin's open-source protocol needed dedicated engineering resources to evolve into a viable backbone for assets and contracts, which Back's own Hashcash proof-of-work algorithm helped make possible. The firm's strategy spans consumer hardware, enterprise custody, and open-source developer tooling, all orbiting the Bitcoin protocol. Blockstream's enterprise unit offers custody and treasury management, while its Asset Management Platform (AMP) enables tokenized securities on the Liquid Network, a Bitcoin sidechain the firm launched in 2018. Confirmed products include the Blockstream Jade hardware wallet, the Green wallet app for consumer self-custody, and the Blockstream Satellite system that broadcasts the Bitcoin blockchain from space. The company operates across North America, Europe, and Asia-Pacific, with development hubs in the Cayman Islands, Canada, Switzerland, and Australia. Blockstream's global team exceeds 100 professionals, stretched across ten offices in Victoria, the Bay Area, Los Angeles, Montreal, Lugano, Milan, Turin, Melbourne, and Tokyo. In November 2024, the firm appointed Sean Bill as its first Chief Investment Officer to lead its newly formed asset management division. Two months later, in January 2025, it launched its first two institutional Bitcoin investment funds, marking a formal entry into asset management. The group also operates Blockstream Research, established in February 2023, to centralize its academic output on Bitcoin scalability and privacy. Blockstream's structural differentiator is its vertical integration into Bitcoin's actual plumbing. Unlike most crypto asset managers that simply trade or custody tokens, the firm designs the Satellites, sidechains, and core protocol implementations that the network itself runs on. Its open-source contributions—including Core Lightning and the Simplicity smart-contract language—mean its product roadmap is inseparable from Bitcoin's own technical roadmap, creating a unique posture that blurs the line between infrastructure company and asset manager.
General information
Firm type
Asset Manager
Year founded
2014
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
Victoria
Corporate office
Victoria, British Columbia, Canada
Additional offices
Cayman Islands · Bay Area, CA · Los Angeles, CA · Montreal, Canada · Lugano, Switzerland · Milan, Italy · Turin, Italy · Melbourne, Australia · Tokyo, Japan
Principals
Adam Back
Co-founder and CEO
Sean Bill
Chief Investment Officer
Michael Minkevich
Chief Operating Officer
Michael Golomb
Chief Financial Officer
Jeff Boortz
Chief Product Officer
Aleksey Skopenko
Chief Information Officer
Peter Bain
Chief Marketing Officer
Naji Bekhazi
Head of Sales
Sector focus
Frequently asked questions
Who runs investment decisions at Blockstream?
Sean Bill, appointed Chief Investment Officer in November 2024, leads the newly formed Blockstream Asset Management division and oversees its institutional Bitcoin funds. CEO Adam Back sets the overall technical and strategic direction but is not the day-to-day portfolio manager.
Is Blockstream structured as a technology company or an asset manager?
Blockstream operates as both. The core business builds Bitcoin infrastructure—hardware wallets, sidechain protocol development, and satellite broadcasting—while its new asset management arm, launched in January 2025, offers institutional Bitcoin funds. This hybrid model is unusual in both the crypto-native and traditional finance worlds.
What is the Liquid Network and how does it relate to Blockstream's strategy?
Liquid is a federated Bitcoin sidechain launched by Blockstream in 2018. It enables faster, more confidential transactions and tokenized asset issuance, such as Tether's USDT deployment on Liquid. Blockstream's enterprise custody and asset tokenization platform (AMP) run on Liquid, making the sidechain a central piece of its commercial infrastructure.
Does Blockstream manage capital for external third parties?
Yes, effective early 2025. The January 2025 launch of Blockstream Asset Management introduced two institutional-grade Bitcoin funds, marking the first time the firm formally accepted external capital for managed Bitcoin exposure.
How does Blockstream source unique investment exposure?
Blockstream's primary differentiator is direct exposure to Bitcoin's protocol layer through its equity, not just the token. Its portfolio companies, if any, and affiliated ventures emerge from its own research lab and Bitcoin-focused venture ecosystem, including the Liquid Ventures Initiative that funds startups building on its sidechain.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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