diff --git a/blocks/blockstore/blockstore.go b/blocks/blockstore/blockstore.go
index 274c1ee7b4f..004a5bf1f7f 100644
--- a/blocks/blockstore/blockstore.go
+++ b/blocks/blockstore/blockstore.go
@@ -196,7 +196,7 @@ func (bs *blockstore) AllKeysChan(ctx context.Context) (<-chan *cid.Cid, error)
 			}
 
 			// need to convert to key.Key using key.KeyFromDsKey.
-			c, err := dshelp.DsKeyToCid(ds.NewKey(e.Key)) // TODO: calling NewKey isnt free
+			c, err := dshelp.DsKeyStringToCid(e.Key)
 			if err != nil {
 				log.Warningf("error parsing key from DsKey: ", err)
 				return nil, true
diff --git a/thirdparty/ds-help/key.go b/thirdparty/ds-help/key.go
index 20308d7045d..1f2248a2238 100644
--- a/thirdparty/ds-help/key.go
+++ b/thirdparty/ds-help/key.go
@@ -26,3 +26,11 @@ func DsKeyToCid(dsKey ds.Key) (*cid.Cid, error) {
 	}
 	return cid.Cast(kb)
 }
+
+func DsKeyStringToCid(dsKey string) (*cid.Cid, error) {
+	kb, err := base32.RawStdEncoding.DecodeString(dsKey[1:])
+	if err != nil {
+		return nil, err
+	}
+	return cid.Cast(kb)
+}