BlackRock has no plans to launch a bitcoin product, but is bullish on the blockchain technology that underpins cryptocurrencies, according to one of its most senior executives.

“In terms of the underlying technology of blockchain, it is incredibly innovative and incredibly disruptive,” Salim Ramji, global head of iShares and index investments at BlackRock told Financial News during a Barron's Live event on 22 June. “It takes out frictions, it enables the easier transfer of value in ways that make the underlying plumbing of markets much more efficient for clients.”