Vanguard’s New CEO Affirms No Plans to Launch Bitcoin ETF Despite Industry Interest

Salim Ramji, the newly appointed CEO of Vanguard, has confirmed that the company will not reverse its decision to refrain from launching a spot Bitcoin exchange-traded fund (ETF). In a recent interview with Barron’s, Ramji, who previously headed BlackRock’s global ETF business, said Vanguard is committed to consistency, adding that cryptocurrency-related investment products do not align with the firm’s investment philosophy. Earlier this year, Ramji oversaw the launch of BlackRock’s spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), which has accumulated $18 billion in assets under management. Vanguard, with its substantial $8.6 trillion in assets under management (AUM), opted for a different stance.

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