Investment management firm Vanguard has appointed Salim Ramji as its new CEO and board member. Ramji previously led BlackRock's global ETF department, overseeing the iShares spot Bitcoin ETF launch. Vanguard was previously anti-Bitcoin and did not allow brokerage account holders to buy Bitcoin ETFs as they thought the assets were too risky. Analysts are mixed on whether this hire will shift Vanguard's position on Bitcoin.
Thursday, May 16, 2024Vanguard's Specialized Funds Trust registration statement defines various types of crypto assets. It labels digital currencies as assets that are a store of value, medium of exchange, or unit of account that is blockchain-based and not issued by a central authority. A digital security token invokes some type of ownership over a separate asset. A digital utility token derives value from providing access to a particular product or network.