"Hmm, maybe Vanguard will like crypto like BlackRock too later?"
Vanguard announced that its current Chairman and Chief Executive Officer (CEO) Tim Buckley who has held the position for more than three decades will retire by the end of 2024 then Chief Investment Officer Greg Davis will step in as President.
During his leadership, Buckley was instrumental in establishing Vanguard's reputation as a leader in the investment management industry and during his tenure, the asset management firm achieved a record high net asset value of over $9 trillion.
There is no denying that Davis is taking on his new duties as President and CIO, but his investment partners will be watching closely to see if there will be any changes in the strategy of the firm that continues to refuse to embrace crypto ETFs.
Davis' record of change and leadership in the field of investment may be the main source that can push Vanguard to adopt a more flexible approach to investment trends emerging with the digital age.
It should also be noted that Buckley's retirement has sparked discussion among investors, market analysts and others seeking answers as to whether Vanguard may reconsider its strong stance on Bitcoin (BTC) ETFs.
While traditional investment strategies have characterized Buckley's leadership, Davis' appointment could open the door to new possibilities such as a softer approach to crypto investing, Bloomberg analysts Eric Balchunas and James Seyffart said.
Pleased to note Vanguard's ETF flow called $VOO has outperformed BTC ETF flow and this success story again demonstrates Vanguard's strength in the ETF space even though it still maintains a cautious stance on crypto.
