Bitcoin, Ether, XRP, SOL ETFs Still Not On The Table, CEO Of Giant Asset Manager Vanguard Asserts ⋆ ZyCrypto
The post Bitcoin, Ether, XRP, SOL ETFs Still Not On The Table, CEO Of Giant Asset Manager Vanguard Asserts ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     While other prominent financial firms have embraced the successful spot Bitcoin (BTC) exchange-traded funds (ETFs), Vanguard has stood out for not giving its clientele trading access to any of the 11 BTC products that became available in mid-January. Salim Ramji, who last month took the reins at Vanguard from outgoing CEO Tim Buckley, has poured cold water on the idea that he has intentions for the investment giant to join the cryptocurrency ETF gold rush. No Crypto ETFs At Vanguard The new Vanguard CEO has maintained that the world’s second-largest asset manager has no plans to enter the Bitcoin ETF game. There is no exception for ETFs directly holding other cryptocurrencies, including Ethereum (ETH), Ripple’s XRP, and Solana’s SOL. “We will not be launching crypto ETFs,” Ramji affirmed in an Aug. 14 interview, citing the company’s commitment to its investment philosophy. Less than one year ago, Ramij worked for Vanguard’s chief rival, serving as Head of iShares and Index Investments at BlackRock. Notably, Ramij was a force in the Wall Street giant’s decision to offer and secure approval for the iShares Bitcoin Trust (IBIT) — which is now the world’s largest BTC exchange-traded fund. Advertisement   “The underlying technology that underpins Bitcoin and the blockchain technology, is something that we’re incredibly excited about, and we’re excited about it because it removes frictions or at least has the promise of removing frictions across the ecosystem,” Ramji posited last July after BlackRock first submitted its filing to introduce the ETF. But at Vanguard, he has a different viewpoint. “I’m not going to copy competitors. It’s important that a company stay consistent with who they are,” Ramji opined. Why Vanguard Is Not Interested In Bitcoin ETFs Vanguard will remain consistent in terms of its core values, avoiding extreme deviations from…
Filed under: News - @ August 15, 2024 6:23 pm