Bitcoin
Crypto News Today: Microstrategy joins global index | Vanguard Drops Bitcoin ETF
In a recent interview with Barron’s, Ramji emphasized the importance of alignment between a company’s products and its core values. He reinforced this point by referring to Vanguard’s investment philosophy, as explained by Chief Investment Officer Greg Davis.
While Vanguard has decided not to launch its own spot Bitcoin ETF, the company also does not offer its clients trading access to the numerous spot Bitcoin ETFs that have been launched in the US, something that was not covered in the interview.
Prior to joining Vanguard, Ramji worked at BlackRock, where he led the global iShares business and played a key role in BlackRock’s successful bid to launch and gain approval for a spot Bitcoin ETF, before leaving the company.
MicroStrategy joins the MSCI global index
MicroStrategy, a business intelligence company listed on Nasdaq (MSTR), the largest corporate holder of Bitcoin, with more than $13 billion worth of BTC on its balance sheet, will be added to the leading global index MSCI after the company’s shares rose.
The move will mean that MicroStrategy will be one of the three largest additions to the global stock index in terms of market capitalization. Index providers regularly update their indicators, with the latest changes coming into effect at the end of May.
The move further shows how exposure to cryptocurrencies is increasingly reaching traditional investment portfolios, as billions of dollars track or are compared to the MSCI World Index.