Bitcoin ETF

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Vanguard’s new boss emphasizes a commitment to maintaining core principles, ruling out the launch of crypto ETFs despite competitor trends. 
Vanguard’s new chief executive Salim Ramji has made it clear that the investment giant has no plans to launch crypto <a href="https://crypto.news/tag/etf/" target="_blank" rel="noreferrer noopener">exchange-traded funds</a>, setting the firm apart from rivals who have eagerly entered the crypto space. 
In a recent <a href="https://www.etf.com/sections/news/vanguard-ceo-ramji-criticism-will-make-us-better" target="_blank" rel="">interview</a> with ETF.com, Ramji emphasized that Vanguard will not “copy competitors” and will remain true to its core principles, focusing on long-term strategies. Despite the surge in crypto ETF offerings from firms like <a href="https://crypto.news/tag/blackrock/" target="_blank" rel="noreferrer noopener">BlackRock</a>, Ramji stressed the importance of consistency with Vanguard’s traditional approach, which prioritizes asset classes such as equities, bonds, and cash. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “I’m not going to copy competitors. It’s important that a company stay consistent with who they are. Vanguard must look through the lens of our clients.” 
 Salim Ramji 
</blockquote> 
While other major investment firms have quickly moved to offer Bitcoin ETFs following the U.S. Securities and Exchange Commission’s approval of such products in January, Vanguard remains absent from this trend. Executives Janel Jackson and Andrew Kadjeski earlier <a href="https://crypto.news/vanguard-groups-outgoing-ceo-still-not-bullish-on-bitcoin-etf/" target="_blank" rel="noreferrer noopener">reiterated</a> in a blog post that Vanguard views cryptocurrencies as speculative assets unsuitable for long-term investment. 
Ex-Vanguard CEO Tim Buckley has previously also highlighted the risks associated with Bitcoin’s (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) volatility and its lack of stability as a store of value, reaffirming that the company will not integrate such products into its offerings. 
As of press time, BlackRock accumulated over $20 billion worth of liquidity in its spot Bitcoin ETF known as iShares Bitcoin Trust ETF, per <a href="https://etfdb.com/themes/bitcoin-etfs/" target="_blank" rel="">data</a> from ETF Datalist. It is followed by Grayscale and Fidelity, which hold $13.7 billion and $10.4 billion in liquidity respectively. 
 Read more: <a href="https://crypto.news/vanguard-blocks-spot-bitcoin-etf-purchases/"> Vanguard blocks spot Bitcoin ETF purchases </a>

Vanguard CEO won’t ‘copy competitors,’ no plans for crypto ETFs

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