Bitcoin ETF

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/vanguard-appoints-salim-ramji-as-new-ceo/" data-wpel-link="internal">Vanguard Appoints Salim Ramji as New CEO</a><br></p>
<p class="p1" style="text-align: justify">Asset management giant <strong>Vanguard</strong> has chosen Bitcoin-friendly and former Blackrock executive Salim Ramji as its new CEO. Earlier this year, Ramji managed the approval and launch of BlackRock’s spot <a href="https://en.coin-turk.com/jim-cramers-skepticism-on-bitcoins-future-amid-etf-launches/" data-wpel-link="internal">Bitcoin</a> exchange-traded fund, leading to speculation among industry experts about whether his appointment on May 14th at Vanguard would shift the firm’s long-standing opposition to Bitcoin.</p> 
<h2 class="p1" style="text-align: justify" id="vanguard-and-its-new-ceo">Vanguard and Its New CEO</h2> 
<p class="p1" style="text-align: justify"><strong>Bloomberg ETF</strong> analyst James Seyffart stated in a May 15th post on X that he does not believe Ramji will see Vanguard launch its own spot Bitcoin ETF product. However, Seyffart thinks Ramji might reverse Vanguard’s stance on allowing its customers to buy spot Bitcoin ETFs on its brokerage platform.</p> 
<p class="p1" style="text-align: justify">Another Bloomberg analyst, Eric Balchunas, shared a similar view but noted that Ramji has spoken positively about Bitcoin and blockchain <a href="https://newslinker.co/" data-wpel-link="exclude">technology</a> in the past. Balchunas described Vanguard’s decision as a semi-shock because the company is hiring an external CEO for the first time.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-351582 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/eric.jpg" alt="" width="750" height="616"></p> 
<p class="p1" style="text-align: justify"><strong>Ramji</strong> will take over as Vanguard’s CEO from Tim Buckley, a long-time Bitcoin critic, starting July 8th. Vanguard has been searching for a new leader since late February this year when Buckley announced his retirement plans.</p> 
<h2 class="p1" style="text-align: justify" id="noteworthy-details-on-the-matter">Noteworthy Details on the Matter</h2> 
<p class="p1" style="text-align: justify"><strong>Ramji</strong> stated that he left BlackRock to seek new leadership or entrepreneurial opportunities outside the company, just four days after helping establish the iShares Bitcoin Trust fund on January 11, 2024. He served as the Global Head of iShares and Index Investments at BlackRock and was a member of the firm’s Global Executive Committee.</p> 
<p class="p1" style="text-align: justify">Some of Vanguard’s long-time clients threatened to close their accounts in January after the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investment</a> firm decided not to offer spot Bitcoin ETF funds on its brokerage platform. The decision was made while Vanguard was proposing the Inverse Jim Cramer ETF fund. Vanguard doubled down on its call not to offer a spot Bitcoin product, citing that Bitcoin did not align with the firm’s investment philosophy and shared the following statement:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Our view is that these products are not consistent with our offering, which focuses on asset classes like stocks, bonds, and cash that we see as the building blocks of a balanced, long-term investment portfolio.”</p> 
</blockquote> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/vanguard-appoints-salim-ramji-as-new-ceo/" data-wpel-link="internal">Vanguard Appoints Salim Ramji as New CEO</a></h5>

Vanguard Appoints Salim Ramji as New CEO

Table of Contents

COINTURK NEWS

Other articles published on May 15, 2024

Is Ripple Dumping XRP Again? Here’s What We Know

Bitcoin Mining Stock Bit Digital Jumps On Q1 Earnings: What You Need To Know

Polkadot Up More Than 4% In 24 hours

Worldcoin Challenger Humanity Hits $1B Valuation

Flux Coin Powers Decentralized Cloud Computing

MAGA Shiba Inu (MAGASHIB) to Skyrocket 13,000% Before MEXC Listing, While Shiba Inu and Dogecoin ...

Join our free newsletter for daily crypto updates!