{"id":90921,"date":"2024-05-16T00:49:41","date_gmt":"2024-05-16T04:49:41","guid":{"rendered":"https:\/\/ifintechworld.com\/?p=90921"},"modified":"2024-05-16T00:49:42","modified_gmt":"2024-05-16T04:49:42","slug":"vanguards-new-ceo-affirms-no-plans-to-launch-bitcoin-etf-despite-industry-interest","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=90921","title":{"rendered":"Vanguard&#8217;s New CEO Affirms No Plans to Launch Bitcoin ETF Despite Industry Interest"},"content":{"rendered":"<div>\n<div class=\"row mb-20\">\n<div class=\"col-12 col-lg-9 col-xl-8\">\n<div class=\"author-section\">\n<div class=\"author-info\">\n<p>\n                                                            <span>Last updated:<\/span><br \/>\n                                                        <time datetime=\"2024-05-16T04:36:36+00:00\"><br \/>\n                              May 16, 2024 00:36 EDT                            <\/time><br \/>\n                                                             <span class=\"date-v-line\">|<\/span> 2 min read                                                    <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div><figcaption class=\"wp-caption-text\"><\/figcaption><p>Salim Ramji, the newly appointed CEO of Vanguard, has confirmed that the company will not reverse its decision to refrain from launching a spot Bitcoin exchange-traded fund (ETF).<\/p>\n<p>In a recent <span data-preserver-spaces=\"true\">interview with\u00a0<\/span><span data-preserver-spaces=\"true\">Barron\u2019s<\/span>, Ramji, who previously headed BlackRock\u2019s global ETF business, said Vanguard is committed to consistency, adding that cryptocurrency-related investment products do not align with the firm\u2019s investment philosophy.<\/p>\n<p>Ramji expressed his support for Vanguard\u2019s Chief Investment Officer, Greg Davis, and his explanation for the decision to avoid a Bitcoin ETF, noting that it is entirely consistent with Vanguard\u2019s investment philosophy and represents a logical and consistent point of view.<\/p>\n<h2>Ramji Oversaw Launch of BlackRock\u2019s ETF<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>Earlier this year, Ramji oversaw the launch of BlackRock\u2019s spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), which has accumulated $18 billion in assets under management.<\/p>\n<p>While Ramji has shown a personal interest in cryptocurrencies, his move to Vanguard prompted speculation about potential changes he might introduce at the firm.<\/p>\n<p>In contrast to Vanguard\u2019s approach, other investment management companies such as Fidelity and nine additional firms launched spot Bitcoin funds, collectively attracting over $12 billion in net inflows.<\/p>\n<p>Vanguard, with its substantial $8.6 trillion in assets under management (AUM), opted for a different stance, viewing cryptocurrencies as speculative investments and considering the asset class to be in its early stages of development.<\/p>\n<p>Although Bloomberg ETF analyst James Seyffart does not believe that Ramji will introduce a Vanguard spot Bitcoin ETF, he suggests that Ramji might reconsider the company\u2019s position regarding allowing clients to purchase other spot Bitcoin ETFs on Vanguard\u2019s brokerage platform.<\/p>\n<p>In March, Vanguard\u2019s outgoing CEO, Tim Buckley, <span data-preserver-spaces=\"true\">said that a Bitcoin ETF is\u00a0<\/span><span data-preserver-spaces=\"true\">not suitable<\/span><span data-preserver-spaces=\"true\">\u00a0for long-term retirement portfolios, characterizing it as a speculative asset.\u00a0<\/span><\/p>\n<p>Buckley\u2019s comments came after customers expressed dissatisfaction when Vanguard blocked access to spot Bitcoin ETFs following their launch by rival firms.<\/p>\n<p>In fact, some Vanguard clients even threatened to close their accounts in response.<\/p>\n<h2>Vanguard Has Indirect Exposure to Bitcoin<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>It is worth noting that Vanguard indirectly <span data-preserver-spaces=\"true\">holds exposure to Bitcoin through its stake in MicroStrategy<\/span><span data-preserver-spaces=\"true\">, where it stands as the second-largest institutional shareholder.<\/span><\/p>\n<p>While Vanguard remains steadfast in its decision to avoid a Bitcoin ETF, rival investment firms are experiencing positive flows as Bitcoin reclaimed the $66,000 mark with a 7% surge on May 16.<\/p>\n<p>Preliminary data from Farside Investors indicates that net inflows for May 15 across all U.S. spot Bitcoin ETFs exceeded $300 million, with the exception of BlackRock\u2019s IBIT, for which results were yet to be reported.<\/p>\n<p>As reported, Morgan Stanley, one of the leading financial institutions, is <span data-preserver-spaces=\"true\">exploring the possibility of expanding<\/span><span data-preserver-spaces=\"true\">\u00a0its sales of Bitcoin ETFs by allowing its approximately 15,000 brokers to actively recommend these products to customers.<\/span><\/p>\n<p>Currently, Morgan Stanley offers Bitcoin ETFs on an unsolicited basis, meaning that customers must approach their advisors independently to express interest in investing.<\/p>\n<p>LPL Financial, the largest independent brokerage with over 22,000 brokers, announced plans in February to evaluate which Bitcoin funds it could offer to customers.<\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/vanguards-new-ceo-affirms-no-plans-to-launch-bitcoin-etf-despite-industry-interest.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last updated: May 16, 2024 00:36 EDT | 2 min read Salim Ramji, the newly appointed CEO of Vanguard, has confirmed that the company will not reverse its decision to refrain from launching a spot Bitcoin exchange-traded fund (ETF). In a recent interview with\u00a0Barron\u2019s, Ramji, who previously headed BlackRock\u2019s global ETF business, said Vanguard is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":90922,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-90921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Vanguard&#039;s New CEO Affirms No Plans to Launch Bitcoin ETF Despite Industry Interest | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Last updated: May 16, 2024 00:36 EDT | 2 min read Salim Ramji, the newly appointed CEO of Vanguard, has confirmed that the company will not reverse its\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=90921\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vanguard&#039;s New CEO Affirms No Plans to Launch Bitcoin ETF Despite Industry Interest | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Last updated: May 16, 2024 00:36 EDT | 2 min read Salim Ramji, the newly appointed CEO of Vanguard, has confirmed that the company will not reverse its\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=90921\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-16T04:49:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-16T04:49:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2024\/05\/1715833697-1715603702-1715603568300_processed.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"686\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=90921#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=90921\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Vanguard&#8217;s New CEO Affirms No Plans to Launch Bitcoin ETF Despite Industry Interest\",\"datePublished\":\"2024-05-16T04:49:41+00:00\",\"dateModified\":\"2024-05-16T04:49:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=90921\"},\"wordCount\":526,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=90921#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=90921\",\"url\":\"https:\/\/ifintechworld.com\/?p=90921\",\"name\":\"Vanguard's New CEO Affirms No Plans to Launch Bitcoin ETF Despite Industry Interest | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2024-05-16T04:49:41+00:00\",\"dateModified\":\"2024-05-16T04:49:42+00:00\",\"description\":\"Last updated: May 16, 2024 00:36 EDT | 2 min read Salim Ramji, the newly appointed CEO of Vanguard, has confirmed that the company will not reverse its\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=90921#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=90921\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=90921#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Vanguard&#8217;s New CEO Affirms No Plans to Launch Bitcoin ETF Despite Industry Interest\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Vanguard's New CEO Affirms No Plans to Launch Bitcoin ETF Despite Industry Interest | iFintechWorld","description":"Last updated: May 16, 2024 00:36 EDT | 2 min read Salim Ramji, the newly appointed CEO of Vanguard, has confirmed that the company will not reverse its","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=90921","og_locale":"en_US","og_type":"article","og_title":"Vanguard's New CEO Affirms No Plans to Launch Bitcoin ETF Despite Industry Interest | iFintechWorld","og_description":"Last updated: May 16, 2024 00:36 EDT | 2 min read Salim Ramji, the newly appointed CEO of Vanguard, has confirmed that the company will not reverse its","og_url":"https:\/\/ifintechworld.com\/?p=90921","og_site_name":"iFintechWorld","article_published_time":"2024-05-16T04:49:41+00:00","article_modified_time":"2024-05-16T04:49:42+00:00","og_image":[{"width":1200,"height":686,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2024\/05\/1715833697-1715603702-1715603568300_processed.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=90921#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=90921"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Vanguard&#8217;s New CEO Affirms No Plans to Launch Bitcoin ETF Despite Industry Interest","datePublished":"2024-05-16T04:49:41+00:00","dateModified":"2024-05-16T04:49:42+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=90921"},"wordCount":526,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Crypto"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=90921#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=90921","url":"https:\/\/ifintechworld.com\/?p=90921","name":"Vanguard's New CEO Affirms No Plans to Launch Bitcoin ETF Despite Industry Interest | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2024-05-16T04:49:41+00:00","dateModified":"2024-05-16T04:49:42+00:00","description":"Last updated: May 16, 2024 00:36 EDT | 2 min read Salim Ramji, the newly appointed CEO of Vanguard, has confirmed that the company will not reverse its","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=90921#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=90921"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=90921#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Vanguard&#8217;s New CEO Affirms No Plans to Launch Bitcoin ETF Despite Industry Interest"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/90921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=90921"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/90921\/revisions"}],"predecessor-version":[{"id":90923,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/90921\/revisions\/90923"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/90922"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=90921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=90921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=90921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}