US-based investment company Vanguard, which has a negative perspective on Bitcoin and cryptocurrencies, recently introduced its new CEO.
Vanguard, which manages $7.2 trillion in assets, has named Salim Ramji, the former head of BlackRock's global ETF division, as its new CEO.
It was wondered whether there would be a change in Vanguard's decision regarding spot Bitcoin ETFs regarding the transfer of Salim Ramji, an important name in the launch of BlackRock's spot Bitcoin ETF, to Vanguard.
Unlike global giants such as BlackRock, Vanguard's new CEO Salim Ramji, who has a negative attitude towards cryptocurrencies such as Bitcoin, gave his first interview and announced that the BTC ETF decision will not be reversed.
Speaking to Barron's, Ramji said that Vanguard has not changed its mind about Bitcoin and that the company will not reverse its decision not to launch spot Bitcoin.
In his statement, Ramji stated that his new company, Vanguard, represents consistency and that crypto-related investment products do not align with the “company's investment philosophy.”
“I think it's important for companies to be consistent in terms of what they stand for and the products and services they offer.
I heard the statement from the company's CIO, Greg Davis, and I think it is entirely consistent with Vanguard's investment philosophy. “It's a logical and consistent point of view.”
Vanguard views Bitcoin and cryptocurrencies as a speculative and immature asset class.
*This is not investment advice.