Bitcoin ETF

BlackRock

Salim Ramji is joining as the CEO of Vanguard with effect from July 8, 2024. This change is expected to have an impact on the ETF offerings of the company based on his prior experiences.
On May 14, Vanguard announced that its Board of Directors had appointed Salim Ramji as the company’s CEO. He will join the board with effect from July 8, 2024. He will replace Tim Buckley, the current CEO and Chairman of Vanguard, as he is retiring from the board.
<h2 class="wp-block-heading" id="strong-what-does-he-bring-to-the-table-strong">What does he bring to the table?</h2>
He has more than 25 years of experience in investments, capital markets, and wealth management. Salim has worked as a senior leader at BlackRock for more than a decade. Meanwhile, he has also worked as the global head of iShares and index investing.
In his 25 years of experience, he has worked at different organizations in the financial industry and even state bodies. There, he served in several positions, establishing him as a proficient leader for an organization.
His scattered experience has so much to offer the organization. Also, his involvement and position in the launch and development of the Bitcoin ETF at BlackRock can significantly impact the ETF offerings in various asset classes, including cryptocurrencies.
Moreover, his beliefs and ideologies in the industry more or less align with Vanguard’s mission and objectives. His joining the company ensures a brighter future.
Vanguard currently has around 80 ETF products spread across various asset classes, and in contrast, <a href="https://www.thecoinrepublic.com/2024/05/03/blackrock-witnessed-first-outflow-is-bitcoins-price-the-reason/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a> has more than 400 similar products that include all the major asset classes, including cryptocurrencies.
<h3 class="wp-block-heading" id="strong-a-probable-release-of-btc-etf-strong">A Probable Release of BTC ETF</h3>
After the news outbreak, several industry analysts have contacted Salim Ramji to know what changes he will bring to the organization and whether he will launch a Bitcoin ETF under the Vanguard umbrella.
As a response, he declined to share details, as they would only be known once he assumed the responsibilities in July 2024.&nbsp;
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 Incoming Vanguard CEO Salim Ramji already shooting down any possibility of firm launching spot bitcoin ETF… He didn't specifically comment on whether Vanguard would allow spot bitcoin ETFs on its brokerage platform, but this doesn't look positive. via <a href="https://twitter.com/AndrewWelsch?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@AndrewWelsch</a> <a href="https://t.co/ILn4nvVwNN" rel="noopener noreferrer nofollow">pic.twitter.com/ILn4nvVwNN</a>— Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1790825381936730420?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 15, 2024</a>
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However, he had a clear stance on the launch of the BTC ETF, as he said he would not reverse the decision to launch a Bitcoin ETF. He said, “I think it’s important for firms to have consistency in terms of what they stand for and the products and services they offer.”
So, it is clear that Vanguard will not launch a Bitcoin ETF in the near future.
<h3 class="wp-block-heading" id="strong-anticipations-with-the-change-in-board-strong">Anticipations with the change in board</h3>
Eric Balchunas, a popular ETF analyst, was expecting a green signal for BTC ETF to maintain the culture of Vanguard with the joining of Salim Ramji as CEO, as he said, “Salim Ramji sort of adhering to the Vanguard culture or maybe bringing some of that BlackRock flavor to Vanguard.”
In an interview with Bloomberg Television after the announcement, Eric Balchunas said he has become optimistic about the launch or at least that the doors will open for trading of BTC ETFs, looking at the experience and contribution of Ramji at BlackRock and the tremendous growth of ETFs in the USA.
However, he also addressed many opportunities and possibilities, excluding crypto ETFs for Salim Ramji to explore in Vanguard.

Bitcoin ETF a Big No-No for Vanguard, Says New CEO Salim Ramji

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Thecoinrepublic.com

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