“We’re not launching a crypto ETF.”

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Vanguard Ramji strongly rejects the introduction of crypto ETFs. Despite market trends, Vanguard maintains its identity by focusing on customer-centric strategies.

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Vanguard CEO Salim Ramji said the company does not pursue market trends that are against its core principles and customer needs. In an exclusive interview with ETF.com, Ramji Vanwaard said, “We are not launching a crypto ETF,” reinforcing the company's commitment to its core values.

“I don't copy competitors,” Ramji said when asked if he would follow a similar strategy to BlackRock, where he headed iShares for nearly five years.

Vanguard maintains its core identity and values, avoiding serious deviations from its founding principles, Ramji said.

While staying true to its core, Vanguard will pursue innovative solutions within its current capabilities, the new CEO said.

But I need more creativity. For example, we have excellent fixed income potential,” Ramji said.

“Jack Bogle's ‘value matters hypothesis' is something we always keep in mind,” he added.

Following Vanguard's appointment in May, Ramji was replaced by Tim Bucklin. The former CEO of the company has made countless statements on the spot Bitcoin product offering.

The move first raised hopes that the investment giant would consider offering crypto ETFs. However, Ramji confirmed that Vanguard does not register for Bitcoin ETF and does not host such products on the brokerage platform.

Despite the acceptance of spot Bitcoin and Ethereum ETFs in the US, Vanguard prefers to stick to its position that crypto assets like Bitcoin and Ethereum are speculative rather than investment worthy. Shortly after the company launched, it banned its clients from trading US spot Bitcoin ETFs.

Bloomberg ETF analyst Eric Balchunas previously commented on the company's defensive stance, which, while disappointing, fits Vanguard's co-op-like business model, which doesn't prioritize maximizing returns on current ETFs.

I know this CT is crazy, but I would just take the L here and continue, Vanguard is not a regular asset manager (saving constant income). They love mutual cooperation, and for more than ten years they have taken about a billion a day, and therefore they do not envy being beaten by other people…

— Eric Balchunas (@EricBalchunas) May 30, 2024

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