Bitcoin ETF

BlackRock

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Vanguard has named Salim Ramji, a former BlackRock executive known for his Bitcoin-friendly stance, as its new CEO.</li> 
 <li>Ramji’s appointment has sparked speculation about a potential shift in Vanguard’s previously hostile approach to Bitcoin.</li> 
</ul>  
<p>Salim Ramji, a former executive at BlackRock known for his positive approach towards <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin</a>, has been appointed as the new CEO of Vanguard, a leading investment management firm. The company confirmed his appointment, which will be effective from July 8, in a recent announcement.</p> 
<h2 id="salim-ramji-s-background">Salim Ramji’s Background</h2> 
<p>Ramji brings 25 years of industry experience to his new role at Vanguard. He formerly led BlackRock’s global exchange-traded fund (ETF) business, where he oversaw the launch of its IBIT spot Bitcoin ETF in the U.S. Ramji left BlackRock in January, expressing a desire to seek new leadership or entrepreneurial opportunities.</p> 
<p>In a statement, Ramji expressed his excitement about joining Vanguard, a company he admires and respects. He emphasized that the changing investor landscape presents opportunities for Vanguard to further its mission of giving people the best chance for investment success. Ramji will succeed Tim Buckley, who is retiring and stepping down as both Chairman and CEO of Vanguard.</p> 
<h2 id="vanguard-s-previous-stance-on-bitcoin">Vanguard’s Previous Stance on Bitcoin</h2> 
<p>The appointment of a Bitcoin-friendly CEO is particularly noteworthy given Vanguard’s previously hostile stance towards the cryptocurrency. Earlier this year, Vanguard users with brokerage accounts were unable to buy U.S. spot Bitcoin ETFs, unlike many of its competitors. The firm argued that the high volatility of Bitcoin is detrimental to generating long-term returns.</p> 
<p>This stance led to a #BoycottVanguard movement on social media, to which Vanguard responded by removing the Bitcoin futures ETFs from its platform. Buckley’s announcement of his impending retirement earlier this year led to speculation that Vanguard might reconsider its position on Bitcoin, but this was largely dismissed by analysts at the time.</p> 
<p>Despite this, the appointment of Ramji has reignited speculation about a potential shift in Vanguard’s approach to Bitcoin. It’s worth noting that this is the first time Vanguard has hired externally for the CEO role. Industry observers are keen to see if Ramji will attempt to give Vanguard investors access to crypto, as he did for BlackRock investors.</p>

Former Pro-Bitcoin BlackRock ETF Head Becomes Vanguard’s New CEO

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