The global head of BlackRock financial management company iShares and Index Investment said that the financial company may not soon launch an exchange-traded fund (ETF) related to crypto assets.

According to a report by the Financial News on Friday, BlackRock executive Salim Ramji Said The company, which manages $9.5 trillion in assets, “has no current plan” to launch a cryptocurrency exchange-traded fund until U.S. regulation becomes clearer. He added that BlackRock is unlikely to be the first cryptocurrency investment in this emerging market, but the company needs to conduct due diligence.

“Before we pack or paste our brand [crypto], We want to make sure that our customers will be satisfied with us in five or ten years,” Ramji said. “The regulatory domain of cryptocurrency is still very opaque and unclear at all. ”

Bitcoin (Bitcoin) Strategic ETF from Valkyrie, a digital asset management company, and ProShares is listed on the American Stock Exchange In October.Both funds allow U.S. investors to have direct access to cryptocurrency futures. Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), may imply that the agency may Be open to approving exchange-traded products Exposure to regulated BTC futures contracts.

ProShares’ funds reached more than $1 billion in assets under management in the first week of trading.In addition, the BTC strategy ETF since then Rise to the top 2% In terms of total trading volume, the share of all ETFs-the value of stocks traded on November 10 was approximately $400 million.

related: Why now? The U.S. Securities and Exchange Commission spent eight years authorizing Bitcoin ETFs in the U.S.

Although both Valkyrie and ProShares’ BTC strategy ETFs were launched within a few days, the products of asset management company VanEck have not yet been approved to be listed on any exchange, despite the fact that media reports have set a definite launch date.Van Eyck Submitted a prospectus for its Bitcoin strategy ETF Contacted the U.S. Securities and Exchange Commission on August 9, but was also waiting for regulatory approval or rejection of its spot Bitcoin ETF. Expected to make a decision Until November 14.

Eric Balchunas, Senior ETF Analyst, Bloomberg Said In view of the record that the VanEck Fund refused to provide cryptocurrency from investment companies, he gave less than 1% chance that the SEC would approve the VanEck Fund.

“The Eagles have a better chance of winning the Super Bowl,” Barcunas said.