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Vanguard Group, one of the largest issuers of exchange-traded funds (ETFs) in the world, has decided not to participate in the trending crypto ETF market.&nbsp; 
In a recent interview with ETF.com, Vanguard CEO Salim Ramji <a href="https://www.etf.com/sections/news/vanguard-ceo-ramji-criticism-will-make-us-better" target="_blank" data-type="link" data-id="https://www.etf.com/sections/news/vanguard-ceo-ramji-criticism-will-make-us-better" rel="noreferrer noopener nofollow">confirmed</a> that the company has no plans to launch crypto ETFs despite the rising popularity and financial success of cryptocurrency ETFs. Vanguard is choosing to stay out of this market. 
Ramji, who became CEO on May 14, made it clear that Vanguard will not follow the trend set by other major financial firms.&nbsp; 
“We will not be launching crypto ETFs,” he said. “I’m not going to copy competitors. It’s important that a company stay consistent with who they are.” 
This decision is noteworthy because many other big financial companies are diving into the cryptocurrency ETF space. For example, BlackRock, Vanguard’s main competitor, has already introduced two major crypto ETFs: the iShares Bitcoin Trust (IBIT) and the iShares Ethereum Trust (ETHA). These funds have attracted significant investments, with IBIT holding around $21 billion and ETHA holding about $800 million. 
The market for crypto ETFs has also seen record growth this year. Bitcoin ETFs, in particular, have experienced an unprecedented level of investment.&nbsp; 
According to <a href="https://www.sec.gov/Archives/edgar/data/1588489/000095017024095366/etf_bild_project_8.12.20.htm" target="_blank" rel="noopener">Grayscale’s head asset manager</a>, these ETFs have received more than three times the largest one-year inflow ever recorded in the history of ETFs. This surge in interest has led to more traditional investors accepting cryptocurrencies as an investment option. 
Despite this growing trend, Vanguard is choosing to focus on its core strengths of concentrating on creating products that help investors protect their money, especially during market downturns. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/08/15/nyse-arca-withdraws-proposal-to-allow-crypto-etf-options-trading/">NYSE Arca Withdraws Proposal to Allow Crypto ETF Options Trading</a> 
</blockquote>

“We will not be launching crypto ETFs” — Vanguard Group CEO

The Crypto Times

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