Bitcoin ETF

Bitcoin

Spot

Vanguard, a leading global investment firm managing assets worth over $7 trillion, has again reaffirmed its stance concerning exchange-traded funds (ETF). The Vanguard Group says it will neither invest nor issue a spot Bitcoin ETF.
<h2 id="b-salim-ramji-s-leadership-of-continuity-and-consistency-b">Salim Ramji’s Leadership of Continuity and Consistency</h2>
<a href="https://www.etf.com/sections/news/vanguard-ceo-ramji-criticism-will-make-us-better" rel="noopener noreferrer nofollow">In an interview</a>, Vanguard’s new<a href="https://thecoinrise.com/vanguard-announces-new-ceo-a-shift-in-crypto-strategy/" rel="noopener noreferrer nofollow"> CEO, Salim Ramji</a>, restated that the firm remains focused on other initiatives that resonate with its fundamental principles and long-term objectives. Ramji maintains that despite the current market trend and rave on ETFs, it has no plans to launch a spot Bitcoin ETF.
According to Ramji, the firm remains distinct and will not compete with BlackRock but maintain its unique corporate identity. In so doing, Vanguard hopes to steer clear of market trends or follow the path of other institutional investors.
The CEO maintained that Vanguard’s philosophy and track record of innovation would continue to guide it in placing a premium on cost-effectiveness and the value of its clients. Ramji says the firm prioritizes cost efficiency and will remain unwavering in its commitment to honoring its established core values.
<h2 id="b-shielding-vanguard-from-crypto-market-volatility-b">Shielding Vanguard from Crypto Market Volatility</h2>
Ramji replaced Tim Buckley on July 8, 2024, following his retirement. As reported by TheCoinRise, <a href="https://thecoinrise.com/vanguard-ceo-remains-against-bitcoin-despite-price-surge/" target="_blank" rel="noopener noreferrer nofollow">Buckley faced criticism from clients</a>&nbsp;on his resolute stance against Bitcoin. According to Buckley, Vanguard did not believe in the Bitcoin ETF as they considered it a speculative asset. He insisted that Vanguard could only reconsider its position when the asset class changes.
The new man at the helm of affairs, Ramji, has also followed in Buckley’s footsteps in what obviously looks like the Vanguard standing rule. Financial experts say this stance has helped shield Vanguard from the market volatility of Bitcoin’s pricing.
<h2 id="b-vanguard-focus-remains-outside-crypto-b">Vanguard Focus Remains Outside Crypto</h2>
Interestingly, upon Ramji’s announcement as the successor to the former CEO, speculations made the rounds that Vanguard could be making a strategic move towards ETFs. The predictions were based on the fact that before his new role, Ramji served as<a href="https://thecoinrise.com/vanguard-ceo-stands-firm-on-bitcoin-etf-decision/" rel="noopener noreferrer nofollow"> head of BlackRock’s global ETF business</a>. However, Ramji has maintained the Vanguard’s tradition.
Analysts say Vanguard’s clients must trust the organization’s leadership to explore other profitable endeavors outside of crypto assets.
The post <a href="https://thecoinrise.com/vanguard-says-no-spot-bitcoin-etf-on-the-horizon/" rel="noopener noreferrer nofollow">Vanguard Says No Spot Bitcoin ETF on the Horizon</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Vanguard Says No Spot Bitcoin ETF on the Horizon

Table of Contents

TheCoinrise Media

Other articles published on Aug 15, 2024

Binance Resumes Full Operations in India After Securing FIU Registration and Paying $2.25M Fine

BabyDogeCoin Launches Petition to Secure Binance Listing

Experts Discuss Ripple and SEC Lawsuit Impact on XRP

Pennsylvania Professor Jeremy Siegel Urges Immediate 0.75% Rate Cut Amid Global Market Crash

Pennsylvania Professor Jeremy Siegel Urges Immediate 0.75% Rate Cut Amid Global Market Crash

After Solana's Saga Phone, Another Altcoin Introduced a Physical Collectible! Here Are the Details

Join our free newsletter for daily crypto updates!