Fun

Vanguard names Bitcoin-friendly former BlackRock exec as new CEO

News Feed - 2024-05-15 12:05:44

Brayden Lindrea5 hours agoVanguard names Bitcoin-friendly former BlackRock exec as new CEOSalim Ramji spoke highly of Bitcoin and blockchain technology when overseeing BlackRock’s spot Bitcoin ETF filing.1985 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksAsset management giant Vanguard has named Bitcoin-friendly former Blackrock executive Salim Ramji as its new CEO.


With Ramji overseeing the approval and launch of BlackRock’s spot Bitcoin exchange-traded fund earlier this year, his May 14 appointment to Vanguard has industry pundits wondering whether he will try to change the firm’s long-held opposition to Bitcoin (BTC), or even spark a late filing for a spot Bitcoin ETF.


In a May 15 post to X, Bloomberg ETF analyst James Seyffart said he doesn’t believe that Ramji would be able to see Vanguard launch its own spot Bitcoin ETF product. 


However, Seyffart does think Ramji could reverse Vanguard’s position on not allowing its clients to buy spot Bitcoin ETFs on its brokerage platform.


Fellow Bloomberg analyst Eric Balchunas shared a similar opinion but noted Ramji had spoken highly of Bitcoin and blockchain technology in the past:“Who knows... Door much more open now IMO.”


Balchunas described Vanguard’s decision as a “semi-shock,” as it is the first time the firm has hired an outsider as its CEO.Source: Eric Balchunas


Ramji will replace Tim Buckley — a long-time Bitcoin critic — as Vanguard’s CEO starting July 8.


Vanguard had been on the lookout for a new boss since late February this year when Buckley first announced his plans to retire.


Ramji said he left BlackRock to “seek a new leadership or entrepreneurial opportunity” outside of BlackRock four days after he helped the firm launch its iShares Bitcoin Trust on Jan. 11, 2024.


He served as BlackRock’s Global Head of iShares and Index Investments and was one of the firm’s Global Executive Committee members.


Related:Vanguard among MicroStrategy’s largest shareholders, indirectly exposed to Bitcoin


Some of Vanguard’s long-time customers threatened to close their accounts in January when the investing firm decided not to offer the spot Bitcoin ETFs on its brokerage platform.


The decision was made at a time when Vanguard offered the “Inverse Jim Cramer ETF.”


Vanguard doubled down on its call not to offer a spot Bitcoin product, asserting that Bitcoin simply isn’t in line with the firm’s investment philosophy.“Our perspective is that these products do not align with our offer focused on asset classes such as equities, bonds, and cash, which Vanguard views as the building blocks of a well-balanced, long-term investment portfolio.”


Magazine:Bitcoin ETFs make Coinbase a ‘honeypot’ for hackers and governments: Trezor CEO# Bitcoin# Business# Investments# Digital Asset# Asset ManagementAdd reaction

News Feed

‘Bitcoin Will Never Ditch You’ Ad Dominates Front Page of Major Hong Kong Newspaper
"Bitcoin Will Never Ditch You" Ad Dominates Front Page of Major Hong Kong NewspaperThe number of bitcoin ads appearing in major newspapers is growing. The front page of Apple Daily,
Finder’s Panel of Fintech Experts Predict Ethereum Will Reach $5,114 This Year, Over $50K by 2030
Finder"s Panel of Fintech Experts Predict Ethereum Will Reach $5,114 This Year, Over $50K by 2030 At the end of July, the product comparison website Finder.com published its resear
Best Presales to Buy After Binance Denies Rumors About Dumping Solana
Este artículo también está disponible en español. A Binance spokesperson has clarified that rumors suggesting that the company was dumping some of its crypto holdings, in
Jesse Coghlan5 hours agoNifty News: Trader nabs 800 ETH by baiting a bot, NFT thefts slow and moreA trader walked off nearly $1.5 million richer after tricking a bot copying his trades to buy a slew of NFTs at a markup.1
Kazakhstan Launches Consultation on Proposals to Improve Crypto Trading
Kazakhstan Launches Consultation on Proposals to Improve Crypto Trading Financial authorities in Kazakhstan are starting a public consultation on draft changes to the country’s f
Best AI Agent Coins to Buy as Investor Hype Remains Steady on AI Industry
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
80 Banks Charge Negative Interest Rates as Crisis Deepens in Germany
80 Banks Charge Negative Interest Rates as Crisis Deepens in GermanyAmid the coronavirus pandemic and deepening financial crisis, the number of banks charging customers negative int
Li.Fi releases incident report following $11M hack
Vince Quill4 hours agoLi.Fi releases incident report following $11M hackThe team also announced it was working on a voluntary compensation plan to reimburse 100% of funds to users affected by the exploit.492 Total views5
Bitcoin pro traders were unmoved by BTC’s sell-off, data points to new price highs
Marcel Pechman3 hours agoBitcoin pro traders were unmoved by BTC’s sell-off, data points to new price highsBitcoin futures and options indicate growing strength at BTC’s $70,0003025 Total views13 Total sharesListen t
Binance Now Authorized in 7 EU Countries — Sweden Becomes Latest Member State to Give Approval
Binance Now Authorized in 7 EU Countries — Sweden Becomes Latest Member State to Give Approval Crypto exchange Binance is now legal to operate in seven European countries followi
FTX Co-Founder Sam Bankman-Fried Faces US Extradition, Bankruptcy Court Says Top Execs Won’t Be Compensated
FTX Co-Founder Sam Bankman-Fried Faces US Extradition, Bankruptcy Court Says Top Execs Won’t Be Compensated According to a report citing three people familiar with the matter, th
SBF Is Sleeping Better, Playing Video Games — New York Times Sam Bankman-Fried Interview Dunked on for Going Soft on FTX Co-Founder
SBF Is Sleeping Better, Playing Video Games — New York Times Sam Bankman-Fried Interview Dunked on for Going Soft on FTX Co-Founder On Nov. 14, the New York Times (NYT) published