Bitcoin
Bitcoin ETF is not on Vanguard’s new CEO’s agenda
Salim Ramji, who will take the reins at Vanguard from outgoing CEO Tim Buckley on July 8, quickly poured cold water on the idea that he has intentions for the asset management giant to offer its own spot bitcoin ETF.
“I think it’s important for companies to have consistency in terms of what they represent and the products and services they offer,” Salim Ramji told Barron’s. “I heard [CIO] Greg Davis’s explanation and I think it is completely consistent with Vanguard’s investment philosophy. It’s a logical and consistent point of view.”
It wasn’t so much Vanguard’s decision not to launch its own Bitcoin ETF that caused so much talk, but rather the company’s decision not to offer its clientele trading access to any of the numerous spot products that became available on January 11th of this year. . Ramji did not address this issue in the interview.
At BlackRock, Ramji headed the global iShares business and was a force in the company’s decision to offer and gain approval for a spot bitcoin ETF. He left BlackRock in January.