Delaware Life Insurance Company is adding limited Bitcoin-linked exposure to its retirement annuity portfolio through an index developed by BlackRock.
The insurer will offer an index that blends US stocks with a small, risk-managed allocation to Bitcoin (BTC). The Bitcoin exposure comes through BlackRock’s iShares Bitcoin Trust ETF, meaning investors do not hold Bitcoin directly.
The index combines US equities with managed BTC exposure and applies volatility controls designed to limit fluctuations to about 12%. Delaware Life said the structure allows policyholders to gain indirect exposure to BTC price movements while still preserving their principal under the annuity’s terms.
The index will be available across three of Delaware Life’s fixed indexed annuity products. Fixed indexed annuities are insurance-based retirement products that protect the initial investment and offer tax-deferred growth, with returns tied to the performance of a referenced market index rather than direct asset ownership.
Delaware Life Insurance Company is a US life insurance and annuity provider focused on retirement products. The company said it surpassed $40 billion in cumulative annuity sales as of November 2025.
BlackRock, one of the world’s largest asset managers, launched its Bitcoin ETF in January 2024. According to CoinMarketCap data, the fund has a market capitalization of more than $70 billion, making it the largest spot Bitcoin fund.
In December, BlackRock said the ETF ranked among the company’s three largest investment themes in 2025.
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Insurance companies explore Bitcoin-linked strategies
The Delaware Life product is not the only example of insurance companies experimenting with Bitcoin-linked structures.
Meanwhile Group, a company that offers Bitcoin life insurance, launched in June 2023 backed by investors including Sam Altman and Gradient Ventures. In October 2025, the company raised $82 million in a funding round, which it said would be used to support growing demand for Bitcoin-denominated retirement and savings products.
Tabit, a Barbados-based insurer, has taken a different approach by using Bitcoin to fund its balance sheet rather than offering crypto-linked insurance products. In March, the company raised $40 million in Bitcoin to back traditional US dollar-denominated property and casualty insurance policies, saying its entire regulatory reserve was held in Bitcoin.
Beyond insurance products, US policymakers have moved to expand access to crypto exposure through other retirement vehicles.
In August, US President Donald Trump signed an executive order directing US regulators to expand access to cryptocurrency in 401(k) retirement plans.
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