BlackRock iShares Exec Says Firm Has ‘No Current Plans’ to Launch Crypto ETFs: Report

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BlackRock global head of iShares and index investments Salim Ramji, said in an interview the $9.5 trillion firm has “no current plans” to launch cryptocurrency exchange-traded funds (ETF).

  • “I personally think crypto – things like stablecoins and certainly things like distributed ledger technologies – are a disruptive technology,” Ramji told the Financial News in an interview.
  • However, Ramji, who sits on BlackRock’s world government committee, additionally mentioned the asset supervisor is holding again on launching cryptocurrency ETFs due to the “opaque” regulatory framework and liquidity considerations.
  • In May, BlackRock CEO Larry Fink mentioned the asset supervisor is learning the potential of cryptocurrencies to function long-term investments although it’s too early to inform in the event that they’re “just a speculative trading tool” due to their volatility.
  • In October, the Securities and Exchange Commission (SEC) accredited the primary bitcoin futures ETF, the ProShares Bitcoin Strategy ETF (BITO), which is listed on the New York Stock Exchange.
  • “I also think that before we wrap or put our brand on it, we want to be certain that clients are going to be happy with us five years from now, 10 years from now,” Ramji advised the publication.

Read extra: BlackRock Is ‘Studying’ Crypto, Which Could Someday Play Role Akin to Gold, CEO Says: Report