Salim Ramji wants to stick with Vanguard’s investment philosophy which excludes offering Bitcoin as it is too speculative an asset.
The new chief executive of United States investment giant Vanguard has said he won’t reverse the company’s decision to not launch a spot Bitcoin (BTC) exchange-traded fund.
Vanguard’s new CEO, Salim Ramji — the former head of BlackRock’s global ETF business — told Barron’s in an interview published May 15 that Vanguard stands for consistency and crypto-related investment products do not align with its “investment philosophy.”
“I think it’s important for firms to have consistency in terms of what they stand for and the products and services they offer,” said Ramji.
