Vanguard Steps Up Fight Against Bitcoin ETFs, Here’s What’s Happening
Vanguard is doubling down on its fight against the investment product as the Bitcoin price comes under strong selling pressure following ETF approval earlier this week. Earlier this week, Vanguard said it would not join other major players like BlackRock in offering Bitcoin ETFs.
Vanguard Doubles Down on Not Being a Crypto Stand
Vanguard is strengthening its commitment to avoiding cryptocurrency investments by not only avoiding spot bitcoin exchange-traded funds (ETFs) but also removing existing bitcoin futures products from its brokerage offerings.
This move diverges from the trend observed among other financial giants such as BlackRock, Invesco and Fidelity, which have recently introduced their own branded Bitcoin ETFs.
Vanguard has effectively stopped accepting purchases of cryptocurrency products, including Bitcoin futures ETFs, underlining its clear stance against entering the crypto market.
This decision is consistent with the company’s strategic focus on providing core products and services while remaining consistent with its commitment to meeting clients’ long-term investment needs, a Vanguard spokesperson told Axios.
While some financial institutions have embraced the growing interest in cryptocurrency, Vanguard’s decision reinforces its commitment to a more traditional investment approach by staying away from the evolving landscape of digital assets.
Users Started a Reaction on Social Media
✓ Share:
Bhushan is a FinTech enthusiast and has a good ability to understand financial markets. His interest in economics and finance draws his attention to the emerging Blockchain Technology and Cryptocurrency markets. He is in a constant learning process and motivates himself by sharing the knowledge he has acquired. In her spare time, she reads thriller novels and sometimes explores her culinary skills.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
#Vanguard #Steps #Fight #Bitcoin #ETFs #Heres #Whats #Happening