FMP
May 16, 2024 9:25 AM - Parth Sanghvi
The spot Bitcoin ETF ecosystem may soon get a new mega backer in Vanguard. Though speculative, the $7.7 trillion investment management company might chart a new era, seeing as it just named a new chief executive officer (CEO), Salim Ramji. Ramji is set to replace Tim Buckley, the leader who resisted the urge to embrace Bitcoin ETFs.
Salim has quite a pedigree, and he joins Vanguard from BlackRock (NYSE:BLK), where his last role involved overseeing the launch of BlackRock's iShares Bitcoin Trust (IBIT). On several occasions, Salim Ramji was caught expressing his perception of Bitcoin and the need to embrace new technologies on all fronts.
BlackRock's IBIT led the spot Bitcoin ETF inflows since the product's inception in January. Notably, Ramji has seen the potency of the product, and he might help overhaul how Vanguard embraces the product moving forward.
The anti-Bitcoin culture at Vanguard is striking. Besides refusing to join the host of applicants for spot Bitcoin ETFs, the company also discontinued support for its trading on all of its supported platforms. Former CEO Buckley even hinted that the firm's position against Bitcoin will outlive his tenure, adding a unique twist to the conversation.
Major financial giants in the country and abroad are joining the Bitcoin ETF bandwagon. Besides BlackRock, top banks like Morgan Stanley and UBS have unveiled their exposure to the asset class. Besides these two, top trading firm Susquehanna International Group has also revealed that it holds up to $1 billion spread across several spot Bitcoin ETF issuers.
Oct 31, 2023 8:03 AM - Parth Sanghvi
Free cash flow to the firm (FCFF) and free cash flow to equity (FCFE) are two of the most important metrics used in financial modeling. Both metrics measure the amount of cash that is available to a company's shareholders and creditors, but there is a key difference between the two. FCFF measures...
Nov 25, 2023 6:39 AM - Parth Sanghvi
Choosing the Right Valuation Method: DCF vs. Comparable Companies Analysis Introduction: Valuation methods play a pivotal role in determining the fair value of a company, aiding investors in making informed investment decisions. Two commonly used methods, DCF Valuation and Comparable Companies A...
Dec 23, 2023 2:19 AM - Parth Sanghvi
Introduction: Discounted Cash Flow (DCF) analysis stands as a cornerstone in valuing investments, yet its efficacy is contingent upon various assumptions and methodologies. While a powerful tool, DCF analysis comes with inherent limitations and challenges that investors must acknowledge to make i...