Salim Ramji, Vanguard's newly appointed CEO, has confirmed that the investment company has no plans to launch a Bitcoin ETF. 

Vanguard chose to remain on the sidelines despite other major players such as BlackRock and Fidelity diving headfirst into the burgeoning sector. 

After breaking numerous records, BlackRock's IBIT is now on track to become the largest holder of the leading cryptocurrency. 

There has been a lot of speculation about Vanguard eventually jumping on the Bitcoin train after Ramji, who oversaw the launch of BlackRock's Bitcoin ETF, joined the investment giant as the new case. However, it is now clear that the leadership change has not affected Vanguard's anti-Bitcoin stance. 

Earlier this year, Vanguard ruffled the feathers of cryptocurrency enthusiasts by prohibiting its customers from buying Bitcoin on its platform. 

The Pennsylvania-based investment advisor boasts roughly $9.3 trillion worth of assets under management.