Salim Ramji, the new CEO of Vanguard and former head of Blackrock’s global ETF business, has affirmed the company’s position against launching a spot bitcoin exchange-traded fund (ETF), emphasizing the need for consistency with Vanguard’s investment philosophy that views crypto as a speculative and immature asset class. Despite Ramji’s prior involvement in launching Blackrock’s successful spot bitcoin ETF and his expressed interest in cryptocurrency, he aligns with Vanguard’s stance of not offering crypto-related investment products, citing consistency with the firm’s investment principles. This decision contrasts with several of Vanguard’s rivals, including Fidelity and nine other investment managers, who have seen significant net inflows to their spot bitcoin funds.
Vanguard CEO Salim Ramji Sticks to Firm’s Anti-Crypto Stance, No Plans for Bitcoin ETF
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