The CEO of Vanguard, Tim Buckley, announced his retirement at the end of the year, paving the way for a leadership change. But it’s unlikely that Vanguard’s skeptic attitude toward Bitcoin and cryptocurrencycurrencies would alter under the new boss.
Buckley has been an outspoken critic of Vanguard’s reluctance to offer assets related to cryptocurrencycurrencies. He declared in October 2023 that he didn’t think cryptocurrencycurrency had any inherent value. He issued a warning in a recent video about the volatility of Bitcoin ETFs and the need to exclude them from retirement investment plans.
Although Buckley’s exit would appear to be a chance for a possible change in policy, Vanguard’s opposition to Bitcoin is widespread throughout the company.
Executives Janel Jackson and Andrew Kadjeski restated the company’s rationale in a note to investors on January 24, citing the speculative character of cryptocurrencycurrencies, their lack of economic value, and their propensity to cause volatility in portfolios.
Vanguard has no intentions to introduce its own Bitcoin ETF or provide any cryptocurrencycurrency-related products on its platform, as Jackson and Kadjeski also affirmed.
Although the new president, Greg Davis, has previously stated that he finds blockchain technology to be “quite compelling” and that Vanguard uses it, his position on cryptocurrencycurrency investments is still unknown.
