{"id":20619,"date":"2024-05-16T14:00:37","date_gmt":"2024-05-16T14:00:37","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20619"},"modified":"2024-05-16T07:44:26","modified_gmt":"2024-05-16T07:44:26","slug":"vanguards-new-ceo-maintains-firms-stance-against-bitcoin-etfs","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/vanguards-new-ceo-maintains-firms-stance-against-bitcoin-etfs\/","title":{"rendered":"Vanguard\u2019s New CEO Maintains Firm&#8217;s Stance Against Bitcoin ETFs"},"content":{"rendered":"<p><strong>Salim Ramji, the new boss at Vanguard,<\/strong> affirmed Vanguard\u2019s stand against the launching of a spot-based <a href=\"https:\/\/coinengineer.net\/blog\/spot-bitcoin-etfs-attract-66-million-in-inflows-fidelitys-offering-leads-the-pack\/\">Bitcoin ETFs (exchange-traded fund)<\/a> and that such an act is aligned to the investment philosophy the firm has always followed. The May-15 Barron\u2019s interview featured the head of the crypto unit at Visa, whereby he explained that crypto products do not comply with the principles the company has abided by for many years.<\/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-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/vanguards-new-ceo-maintains-firms-stance-against-bitcoin-etfs\/#Adhering_to_Investment_Philosophy\" title=\"Adhering to Investment Philosophy\">Adhering to Investment Philosophy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/vanguards-new-ceo-maintains-firms-stance-against-bitcoin-etfs\/#Industry_Reactions_and_Speculations\" title=\"Industry Reactions and Speculations\">Industry Reactions and Speculations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/vanguards-new-ceo-maintains-firms-stance-against-bitcoin-etfs\/#Customer_Pressures_and_Indirect_Exposure\" title=\"Customer Pressures and Indirect Exposure\">Customer Pressures and Indirect Exposure<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Adhering_to_Investment_Philosophy\"><\/span>Adhering to Investment Philosophy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>\u201cI believe that firms should exhibit consistency in terms of what they stand for and the products and services they offer,\u201d Ramji said.<\/strong> Ramji, who joins Vanguard as the new CIO on July 8, fully supported the arguments made by the firm\u2019s main investment officer, Greg Davis, who previously discussed the firm\u2019s rationale. \u201cI have heard Greg Davis` explanation and I think that is line with Vanguard investment philosophy. Even given the counter logic the investment philosophy is on point\u201d- concluded Ramji.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Industry_Reactions_and_Speculations\"><\/span>Industry Reactions and Speculations<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Although he was previously the head of BlackRock asset management, which oversaw the launch of the iShares Bitcoin Trust (IBIT) \u2014 that, at the moment, is worth <strong>$18 billion<\/strong> \u2014 Ramji\u2019s style at <a href=\"https:\/\/coinengineer.net\/blog\/vanguard-makes-new-statements-crypto-is-a-speculation\/\">Vanguard <\/a>remains conservative. Vanguard\u2019s $8.6 trillion in assets under management outlines a conservative path of views on Bitcoin as a pure speculative commodity being very young and immature.<\/p>\n<p>April 15th, Bloomberg ETF analyst Jim Seyffert\u2019s observation is that it is peculiar for Ramji to launch a Vanguard spot Bitcoin ETF, since according to him, such is improbable. Seyfert in fact pointed to a possible shift in the policy where Vanguard clients would be able to purchase spot Bitcoin ETFs different from Vanguard via the company\u2019s brokerage platform which would be the major but partial policy change.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Customer_Pressures_and_Indirect_Exposure\"><\/span>Customer Pressures and Indirect Exposure<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The month of January was a challenge to Vanguard, as some of the investors complained to the company intending to close their accounts because Vanguard\u2019s policies on Bitcoin exchange traded fund were too restrictive. In spite of the indirect exposure from this Bitcoin, it is however not as though the Vanguard does not hold a substantial position in MicroStrategy through its stake, as its company is the second-largest institutional shareholder.<\/p>\n<p>The reluctant wit of the outgoing CEO Tim Buckley back in March saying that Bitcoin ETF belongs to the short-term portfolio due to the highly speculative structure. The sentiment was uttered by Vanguard as a way of restricting investors from what they view as risky investments, whereas sometime back, there was growing pressure and mounting of capitalism within the investment sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Salim Ramji, the new boss at Vanguard, affirmed Vanguard\u2019s stand against the launching of a spot-based Bitcoin ETFs (exchange-traded fund) and that such an act is aligned to the investment philosophy the firm has always followed. The May-15 Barron\u2019s interview featured the head of the crypto unit at Visa, whereby he explained that crypto products<\/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":[6131,3975],"class_list":["post-20619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-genel","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>Vanguard\u2019s New CEO Maintains Firm&#039;s Stance Against Bitcoin ETFs - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Salim Ramji, Vanguard\u2019s new CEO, reaffirms the firm\u2019s decision against launching a Bitcoin ETF, citing consistency with its investment philosophy despite industry pressure.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/vanguards-new-ceo-maintains-firms-stance-against-bitcoin-etfs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vanguard\u2019s New CEO Maintains Firm&#039;s Stance Against Bitcoin ETFs - 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