Share this article

Incoming Vanguard CEO Won't Reverse Decision Not to Launch Bitcoin ETF

The former BlackRock executive didn't address the issue of giving Vanguard clients access to any of the other spot bitcoin ETFs that are available.

Updated May 15, 2024, 5:29 p.m. Published May 15, 2024, 5:26 p.m.

Vanguard logo (John Keeble/Getty Images)

Salim Ramji, set to take the reins at Vanguard from outgoing CEO Tim Buckley on July 8, quickly poured cold water on the idea that he has intentions for the asset management giant to offer its own spot bitcoin ETF.

"I think it’s important for firms to have consistency in terms of what they stand for and the products and services they offer," Salim Ramji told Barron's. "I have heard [CIO] Greg Davis’ explanation and I think it is entirely consistent with Vanguard’s investment philosophy. It is a logical and consistent point of view."

STORY CONTINUES BELOW

Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters

By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

It was not so much Vanguard's decision not to launch its own bitcoin ETF that caused so much chatter, but instead the company's move not to offer its clientele trading access to any of the numerous spot products that became available on Jan. 11 of this year. Ramji didn't address that matter in the interview.

At BlackRock, Ramji headed the global iShares business and was a force in that company's decision to offer and win approval for a spot bitcoin ETF. He left BlackRock in January.

Bitcoin ETF Vanguard

Stephen Alpher

Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.