Vanguard hires former supervisor of BlackRock’s Bitcoin ETF as CEO

Previously anti-crypto, Vanguard has named the former director of the ETF branch from BlackRock, in the position of CEO. Salim Ramji supervised the deposit of the fund IBITwhich gives a glimpse of thehope of a change from direction on Bitcoin for society.

US asset management giant Vanguard has hired Salim Ramji as the company’s new CEO. Salim Ramji, who headed BlackRock’s iShares ETF business, succeeds Vanguard’s anti-crypto boss Tim Buckley. He will take up his new post at the beginning of July.

“It’s an honor to join Vanguard, an institution I’ve long admired and respected. […] Today’s investor landscape is evolving, providing opportunities for Vanguard to continue its mission of providing individuals with the best chance for investment success,” Ramji commented, in a release.

On X, ETF expert Eric Balchunas returned to the appointment and noted that Ramji had overseen the filing of BlackRock’s IBIT Bitcoin spot ETF launched earlier this year.

And yes, Salim oversaw the deposit and logistics of $IBIT and was cited for his interest in digital assets, although I’m not sure this will change Vanguard’s position, but heck, he’ll be the CEO. Who knows… The door is much more open now”, he wrote.

Balchunas illustrated his remarks with an interview with Ramji on Bloomberg in the summer of 2023 about Blackrock’s Bitcoin spot ETF filing and in which the former iShares executive praises “Bitcoin’s underlying technology and blockchain technology”.

Global Head of iShares and Index Investments at BlackRock Salim Ramji breaks down why the firm filed a fresh set of applications for a spot-Bitcoin ETF to add new details after the SEC indicated that the initial filings were insufficient https://t.co/n6wrPHF0SQ pic.twitter.com/OZzw0vWrI0

– Bloomberg TV (@BloombergTV) July 10, 2023

Vanguard’s choice surprised many bitcoiners on social networks, given the giant’s and its former boss’s stance on cryptocurrency.

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