Delaware Life Launches First Bitcoin Annuity with BlackRock Index

Retirement accounts just opened a direct pipe to Bitcoin.

Delaware Life Insurance Company announced today the integration of the BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index into its fixed index annuity (FIA) portfolio. This marks the first time a U.S. insurance carrier has offered a capital-protected annuity product with direct cryptocurrency exposure.

The move effectively normalizes Bitcoin as a portfolio stabilizer for conservative retirees. While spot Bitcoin traded down 3% to $90,200 on geopolitical tensions Tuesday, the structural implication of insurance capital entering the asset class offers a counter-narrative to short-term volatility.

The Index Mechanics

The new vehicle doesn’t just track raw price action. It employs a risk-managed structure designed to dampen Bitcoin’s notorious volatility while preserving upside. The index allocates capital across three specific baskets:

• 74% to the iShares Core S&P 500 ETF (IVV)
• 25% to the iShares Bitcoin Trust ETF (IBIT)
• 1% to Cash

The strategy targets 12% annual volatility. If volatility spikes, a common occurrence in crypto markets, the index dynamically adjusts its cash position to smooth returns. Crucially, as a Fixed Index Annuity, the product offers principal protection. Investors gain exposure to Bitcoin’s growth potential without the risk of losing their initial premium if the market crashes.

Institutional Context

This product bridges a gap that has kept trillions in retirement assets on the sidelines. Pension funds and insurance carriers have historically avoided crypto due to its risk profile. By wrapping Bitcoin in an FIA wrapper with BlackRock’s institutional seal, Delaware Life is effectively sanitizing the asset for the most risk-averse demographic in finance.

“We’re proud to partner with BlackRock as the first insurance carrier to offer cryptocurrency exposure through a fixed index annuity,” said Colin Lake, President & CEO of Delaware Life Marketing. “Our fixed index annuities deliver what today’s investors want and need: opportunity for growth with protection.”

The launch timing is deliberate. It aligns with the second anniversary of spot Bitcoin ETFs, signaling that the initial “regulatory test phase” for institutional crypto products has transitioned into a deployment phase. For BlackRock, this cements IBIT not just as a trading vehicle, but as a fundamental building block for structured insurance products.