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 global executive committee, also said the asset manager is holding back on launching cryptocurrency ETFs due to the “opaque” regulatory framework and liquidity concerns.
In May, BlackRock CEO Larry Fink said the asset manager is studying the potential of cryptocurrencies to serve as long-term investments though it’s too early to tell if they’re “just a speculative trading tool” due to their volatility.
In October, the Securities and Exchange Commission (SEC) approved the first 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 told the publication.

Bitcoin Halving: We Answer Your Questions

00:56

What's Stopping Congress From Passing Crypto Regulation?

19:02

Sen. Lummis Addresses Algorithmic Stablecoin Ban in New Bill

14:59

Why Bitcoin May Fall to $52K

02:15

JPMorgan Expects Bitcoin to Drop After Halving; New Zealand Starts Digital Cash Consultation

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Consensus

01

15

29

54

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

BlackRock iShares executive Salim Ramji said the asset manager is holding back in launching crypto ETFs due to “opaque” regulatory framework and liquidity concerns.

Bitcoin Halving: We Answer Your Questions

10 Years of Decentralizing the Future

Bitcoin Halving: We Answer Your Questions