As a researcher with a background in the financial industry, I have closely followed the developments at Vanguard and the ongoing debate about their potential entry into the Bitcoin Exchange-Traded Fund (ETF) market. Salim Ramji’s appointment as the new CEO of Vanguard on July 8 has sparked renewed interest in this topic, given his previous role at BlackRock where he spearheaded the global iShares business and played a significant part in their successful launch of a spot Bitcoin ETF.
Salim Ramji, who will succeed Tim Buckley as Vanguard’s CEO on July 8, dismissed speculations about the firm launching a bitcoin spot ETF.
In Salim Ramji’s perspective, expressed to Barron’s, it is crucial for companies to uphold a unified identity in their values and the offerings they provide. His assessment aligns with Greg Davis’ CIO explanation at Vanguard, which he finds logical and consistent with their investment philosophy.
The lack of action from Vanguard regarding its own bitcoin ETF wasn’t the main topic of conversation, but rather their decision to withhold access to bitcoin spot trading for their clients on January 11. Ramji failed to discuss this issue during the interview.
At BlackRock, Ramji led the global iShares division and played a significant role in the company’s plan to introduce and gain regulatory approval for a Bitcoin Spot Exchange-Traded Fund (ETF). He departed from BlackRock in January.
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2024-05-15 20:45