{"id":20513,"date":"2024-05-15T11:00:24","date_gmt":"2024-05-15T11:00:24","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20513"},"modified":"2024-05-15T09:13:09","modified_gmt":"2024-05-15T09:13:09","slug":"bitcoin-advocate-salim-ramji-named-vanguard-ceo","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-advocate-salim-ramji-named-vanguard-ceo\/","title":{"rendered":"Bitcoin Advocate Salim Ramji Named Vanguard CEO"},"content":{"rendered":"<p><strong>Vanguard, the asset management behemoth,<\/strong> has nominated<strong> Salim Ramji,<\/strong> <strong>a former BlackRock executive<\/strong> who is Bitcoin-friendly, as its new CEO. BlackRock&#8217;s first Bitcoin spot ETF exchange-traded fund (ETF) approval and launch were overseen by Ramji, who is going to be the new head of INDAX on July 8, the day when he replaces the old Bitcoin critic Tim Buckley.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-advocate-salim-ramji-named-vanguard-ceo\/#Potential_Shift_in_Bitcoin_Stance\" title=\"Potential Shift in Bitcoin Stance\">Potential Shift in Bitcoin Stance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-advocate-salim-ramji-named-vanguard-ceo\/#Ramjis_Background_and_Vision\" title=\"Ramji\u2019s Background and Vision\">Ramji\u2019s Background and Vision<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-advocate-salim-ramji-named-vanguard-ceo\/#Customer_Reactions_and_Market_Speculation\" title=\"Customer Reactions and Market Speculation\">Customer Reactions and Market Speculation<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Potential_Shift_in_Bitcoin_Stance\"><\/span>Potential Shift in Bitcoin Stance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The opinion of the experts in the industry towards the appointment of Ramji&#8217;s promotion has industry pundits predicting possible changes in Vanguard&#8217;s stance on its long-time opposition to <a href=\"https:\/\/coinengineer.net\/blog\/bitcoin-sideways-altcoins-ready-to-surge\/\">Bitcoin (BTC).<\/a> Bloomberg ETF analyst James Seyffart said that he did not believe that Ramji could release Vanguard&#8217;s own spot <a href=\"https:\/\/coinengineer.net\/blog\/jpmorgan-chase-enters-cryptocurrency-arena-reveals-investments-in-bitcoin-etfs\/\">Bitcoin ETF<\/a> product, but he added that Vanguard might change its policy on the banning of clients from the purchase of spot Bitcoin ETFs on its brokerage platform.<\/p>\n<p>Just as before, Balchunas, a Bloomberg analyst, reminded us that Ramji has praised Bitcoin and blockchain technology in the past, and he said, \u201cMaybe the door is more open now, IMO.\u201c Balchunas put it as a \u201csemi-shock,\u201d that is, Vanguard is bringing in an outsider as the CEO for the first time.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ramjis_Background_and_Vision\"><\/span>Ramji\u2019s Background and Vision<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>BlackRock&#8217;s Global Head of iShares and Index Investments, Ramji, who at the same time was a member of the firm&#8217;s Global Executive Committee, resigned and left the firm to &#8220;pursue a new leadership or entrepreneurial opportunity&#8221; four days after he helped start the iShares Bitcoin Trust on January 11, 2024. The new position at Vanguard was acquired by president Liz Barrett after the announcement of the retirement of former CEO Tim Buckley in late February.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Customer_Reactions_and_Market_Speculation\"><\/span>Customer Reactions and Market Speculation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In January, some of Vanguard&#8217;s long-time customers started to threaten to close their accounts when the firm decided not to offer spot Bitcoin ETFs on its broader platform. Vanguard once again confirmed its choice to not invest in Bitcoin, as it did not fit its investment philosophy, which is based on the use of equities, bonds, and cash as the main elements of a balanced and long-term investment portfolio.<\/p>\n<p>Although this is Ramji\u2019s appointment, it means a change of course. GameStop memecoins caught the excitement of the investors, which means that the capital that is not being allocated comes from the investors. Thus, the investment officer of Tyr Capital, Ed Hindi, said, \u201cThe excitement generated around GameStop memecoins demonstrates there\u2019s capital out there that\u2019s not being allocated,&#8221;\u00a0 which means that the investor\u2019s interest in Bitcoin and blockchain technology could influence Vanguard.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vanguard, the asset management behemoth, has nominated Salim Ramji, a former BlackRock executive who is Bitcoin-friendly, as its new CEO. BlackRock&#8217;s first Bitcoin spot ETF exchange-traded fund (ETF) approval and launch were overseen by Ramji, who is going to be the new head of INDAX on July 8, the day when he replaces the old<\/p>\n","protected":false},"author":6,"featured_media":20514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[61,6131,3975],"class_list":["post-20513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-genel","tag-bitcoin","tag-salim-ramji","tag-vanguard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Advocate Salim Ramji Named Vanguard CEO - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Vanguard names Bitcoin-friendly Salim Ramji as CEO, sparking speculation of a shift in its Bitcoin stance. 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