Due to ‘opaque’ regulatory framework and liquidity problems, BlackRock is not interested in launching an exchange-traded fund (ETF) based on cryptocurrencies. In an interview with Financial News, Salim Ramji, BlackRock’s head of investments in the iShares product line and indices, said.
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“I believe stablecoins and blockchain are disruptive technologies. But before we create something under our brand, we must be sure that our clients will remain loyal to us for the next five to ten years.”, he said.
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Earlier in October, BlackRock CEO Larry Fink doubted the value of Bitcoin and said he did not know whether the price of the first cryptocurrency would reach $80 000 or crash to zero.
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In July, the head of BlackRock said there was minimal client interest in the company’s digital assets.
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