NEWS
Vanguard, a prominent asset management giant, has appointed Salim Ramji, a former Blackrock executive known for his Bitcoin-friendly stance, as its new CEO.
Ramji, who played a pivotal role in overseeing the approval and launch of BlackRock’s spot Bitcoin exchange-traded fund earlier this year, has sparked speculation among industry observers regarding potential shifts in Vanguard’s traditional stance against Bitcoin (BTC) and the possibility of a late filing for a spot Bitcoin ETF.
Commenting on Ramji’s appointment, Bloomberg ETF analyst James Seyffart stated on May 15 that he doubts Ramji would be able to steer Vanguard towards launching its own spot Bitcoin ETF product.
However, Seyffart suggested that Ramji might influence Vanguard’s policy on allowing clients to invest in spot Bitcoin ETFs via its brokerage platform.
Another Bloomberg analyst, Eric Balchunas, echoed Seyffart’s sentiment and highlighted Ramji’s positive remarks about Bitcoin and blockchain technology in the past.
Balchunas characterized Vanguard’s decision as somewhat surprising, noting that it marks the first time the firm has selected an external candidate as its CEO.
Vanguard had been in search of a new leader since late February, following the announcement of CEO Buckley’s retirement plans.
