One of BlackRock’s top executives has ruled out an imminent foray into crypto exchange traded funds, citing an “opaque” regulatory framework and liquidity concerns among some of the reasons why the world’s largest asset manager is holding back.

Salim Ramji, global head of iShares and index investments at BlackRock, told Financial News the $9.5tn fund house has “no current plans” to launch crypto ETFs, despite other asset managers scrambling to get bitcoin ETFs approved by regulators.