The investment giant's Chairman and CEO Tim Buckley is transferring his leadership and plans to retire by the end of 2024, according to a statement from Vanguard.

Vanguard would not comment on the reason for Tim Buckley's impending retirement and noted that over the past thirty years, under his leadership, the company has significantly strengthened its position as a key player in the investment management sector.

However, according to anonymous sources close to the company’s administration, the likely reason for the resignation could be internal corporate disagreements related to Buckley’s conservative position regarding Bitcoin ETFs and investments in crypto assets in general.

In late January, Vanguard reiterated its refusal to invest in Bitcoin spot ETFs, calling the flagship cryptocurrency an “immature” asset class that does not align with the company's philosophy. At the same time, competing financial giants, such as BlackRock and Fidelity, are actively involved in the processes of launching new investment instruments.

Greg Davis, Vanguard's current chief investment officer, could become the new president. Buckley's impending departure and Davis' appointment have sparked speculation that the company will become more receptive to cryptocurrency investments and may reconsider its stance on Bitcoin ETFs.

Earlier, CoinShares experts reported that the average weekly inflow of investments into Bitcoin ETFs at more than $598 million remained for the fourth week in a row and since the beginning of the year has exceeded $5.7 billion.