Vanguard’s Incoming CEO Stands Firm on Bitcoin ETF Decision

Salim Ramji, who will take over as CEO of Vanguard on July 8, debunks rumors that the massive asset management company is developing a spot bitcoin exchange-traded fund (ETF). Ramji, who is in line with Vanguard’s investment philosophies, emphasizes the value of continuity in the company’s services in an interview with Barron’s.

Here’s an excerpt from the interview, “I think it’s important for firms to have consistency in terms of what they stand for and the products and services they offer. I have heard [CIO] Greg Davis’ explanation and I think it is entirely consistent with Vanguard’s investment philosophy. It is a logical and consistent point of view.”

Clarity Despite Speculations

Although there is a lot of expectation about Vanguard’s strategy for bitcoin ETFs, Ramji’s comments provide light on the situation. His support of Vanguard’s position is consistent with the company’s dedication to its investment tenets. To allow for more conversation, Ramji does not, however, address Vanguard’s ruling on trading access to spot goods.

Prior to joining BlackRock, Ramji oversaw the company’s worldwide iShares division and was a key player in its venture into spot bitcoin exchange-traded funds. His career path underwent a dramatic change when he left BlackRock in January, making room for his forthcoming leadership position at Vanguard.