Vanguard has appointed a new chief executive officer: Salim RAMJI, who led BlackRock’s ETFs and launched its spot bitcoin ETFIBIT will be held in January.
Vanguard has appointed Salim Ramji, an ex-Blackrock CEO as its new CEO. #Bitcoin ETF Lead
Vanguard had previously refused to sell BTC ETF👀 pic.twitter.com/KEq7KeJ3q7
— Bitcoin Magazine (@BitcoinMagazine) May 15, 2024
Ramji is the new CEO to replace Tim Buckley. Buckley was publicly against Bitcoin ETFs and has opposed the offering of Bitcoin ETFs to Vanguard clients.
Vanguard’s brokerage clients were denied access to U.S.-approved spot bitcoin ETFs under Buckley.
Ramji’s appointment, which is set to go into effect on July 8, indicates a possible change in Vanguard’s stance. Ramji, as head of BlackRock’s iShares unit, oversaw launch of iShares Bitcoin Trust.
Ramji spoke positively of the technology that underpins Bitcoin, and how it can remove friction. financial markets.
Some wonder whether his pioneering work with Bitcoin ETFs while at BlackRock, will influence him to pursue similar initiatives at Vanguard.
Bloomberg ETF analyst Eric BalchunasThe door will be open when Ramji, who is Bitcoin-friendly, joins the team. “much more open now” Vanguard should embrace Bitcoin
Retail and institutional investors can choose from a range of index funds and ETFs offered by the firm.
Vanguard is a huge player in ETFs with a global AUM of over $7 trillion. Launching a bitcoin ETF on a spot basis would be a milestone that could help mainstream adoption.
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Source: bitcoinmagazine.com