Blackstone's BCRED private credit fund has encountered redemption requests amounting to 7.9% of its equity in the first quarter of 2026. According to NS3.AI, this development has sparked concerns that mixed portfolios might liquidate crypto holdings. BCRED, which manages approximately $48 billion, received requests totaling around $3.7 billion. In March, the fund experienced a 0.4% monthly loss, marking its first monthly decline since September 2022. In response, Blackstone introduced a $400 million support package and increased the quarterly redemption limit from 5% to 7%.