Keyrock Acquires BlockFills Assets for $3.25M
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Keyrock acquired BlockFills' trading and brokerage assets, adding client relationships, trading technology and derivatives expertise to its existing market making, OTC, options, credit, onchain services and asset management businesses
- Keyrock agreed to pay $3.25 million for substantially all of BlockFills' assets per the bankruptcy filing, while assuming certain liabilities, equity interests, customer relationships and proprietary technology
- The acquisition broadens Keyrock's regulatory footprint through a CIMA-registered entity in the Cayman Islands and a proposed FCA-authorized entity in the UK, subject to regulatory approval
- Perry Parker, a former Goldman Sachs and Deutsche Bank derivatives executive who led institutional options at BlockFills, and Dan Schak, who oversaw risk and trading operations, are joining Keyrock alongside the broader trading, operations and commercial teams
- BlockFills is a Chicago-based crypto trading and lending firm that filed for bankruptcy; CoinDesk first reported Keyrock's acquisition process in June 2026
- Keyrock said it will integrate the business in phases and communicate directly with clients as services are rolled out, citing digital asset derivatives as one of its fastest-growing segments
Why it matters: Keyrock picked up a distressed institutional derivatives desk, regulatory licenses across two major financial jurisdictions and Wall Street-veteran talent for a $3.25 million bankruptcy price — a low-cost expansion that strengthens its derivatives business at a moment when institutional demand for crypto options is described as continuing to grow.
