With new CEO, will Vanguard reconsider its spot Bitcoin ETF stance?
The spot Bitcoin ETF ecosystem may soon get a new mega backer in Vanguard. Though speculative, the $7.7 trillion investment management company might chart a new era, seeing as it just named a new chief executive officer (CEO), Salim Ramji. Ramji is set to replace Tim Buckley, the leader who resisted the urge to embrace Bitcoin ETFs.
Salim has quite a pedigree, and he joins Vanguard from BlackRock, where his last role involved overseeing the launch of BlackRock’s iShares Bitcoin Trust (IBIT). On several occasions, Salim Ramji was caught expressing his perception of Bitcoin and the need to embrace new technologies on all fronts.
Major financial giants in the country and abroad are joining the Bitcoin ETF bandwagon. Besides BlackRock, top banks like Morgan Stanley and UBS have unveiled their exposure to the asset class. Besides these two, top trading firm Susquehanna International Group has also revealed that it holds up to $1 billion spread across several spot Bitcoin ETF issuers.
