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Tim Buckley, the Vanguard CEO below whose watch the large asset supervisor has shunned spot bitcoin ETFs, will retire this yr and a search is underway for his alternative, in keeping with a statement from the corporate.
Whereas different main U.S. monetary establishments have embraced the just lately authorised bitcoin ETFs, Vanguard has stood out for not allowing its brokerage prospects to take action.
The Thursday announcement of Buckley’s impending departure has some questioning on social media whether or not this has one thing to do with that stance – and whether or not Vanguard would possibly change its thoughts below new management.
Whether or not it even must hassle is one other query. Bloomberg analyst James Seyffart famous Thursday that one in all Vanguard’s ETFs, VOO, which tracks the S&P 500 Index, has attracted $15.7 billion in internet new cash up to now this yr, double what BlackRock’s spot bitcoin ETF, IBIT, has collected.
Vanguard is “doing simply superb my mates,” Seyffart posted on X.
