Vanguard appoints Bitcoin-friendly former BlackRock ETF lead as CEO

Investment management firm Vanguard has confirmed the appointment of Bitcoin-friendly former BlackRock executive Salim Ramji as its new CEO and member of the board, effective July 8.

"It's an honor to join Vanguard, an institution I have long admired and respected. I am drawn to Vanguard because of the firm's clarity and consistency of purpose and am very excited to get to work and partner with the outstanding leadership team to lead the company into the future,” Ramji said in a statement late Tuesday.

Ramji succeeds Tim Buckley, who is retiring and stepping down as both Chairman and CEO of Vanguard upon the effective date. Vanguard's Lead Independent Director, Mark Loughridge, will be appointed non-executive Chairman. The stance sparked a #BoycottVanguard movement on social media. However, Vanguard responded by doubling down and removing the Bitcoin futures ETFs from its platform.

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