Spot Bitcoin ETF will not launch! Subscribe!
The new chief executive of US investment giant Vanguard has said the company will not change its decision not to launch a spot Bitcoin exchange-traded fund.
New Vanguard CEO Salim Ramji, who previously headed BlackRock's global ETF business, told Barron's in an interview published May 15 that Vanguard advocates consistency and that cryptocurrency investment products do not align with its "investment philosophy."
Ramji emphasized that it is important for companies to have consistency in what they stand for and the products and services they offer. He also noted that he understands and supports the position of Chief Investment Officer Greg Davis, who previously explained why the company is not launching a spot Bitcoin exchange-traded fund.
It is worth noting that Ramji oversaw the launch of a Bitcoin ETF at BlackRock in January. We are talking about the iShares Bitcoin Trust (IBIT), which has accumulated $18 billion in assets under management.
You can also subscribe to the blog. Here we will publish new articles, videos and other materials that will help you earn money.
