Thomas Daniels
Vanguard, a global leader in asset management, consistently expresses its skepticism towards Bitcoin. The firm recently declared a halt to the acquisition of Bitcoin futures ETFs on its platform. A representative from Vanguard confirmed to Axios the discontinuation of all crypto-related product purchases. This strategic decision aligns with Vanguard’s aim to provide a fundamental suite of products and services that resonate with its guiding principles and goals. Crypto.news previously highlighted Vanguard’s decision to exclude spot Bitcoin ETFs from its platform, following their approval by the U.S. SEC. Moreover, Vanguard disclosed its lack of intention to introduce any analogous offerings.
The statement from the Vanguard spokesperson emphasized: “Effective immediately, Vanguard will cease the purchase of any cryptocurrency products, including Bitcoin futures ETFs.”
In contrast, Vanguard’s competitors, BlackRock and Fidelity, have embraced Bitcoin. They launched the iShares Bitcoin ETF (IBIT) and Wise Origin Bitcoin Trust (FBTC), which saw significant performance on their inaugural trading day.
There’s speculation that Vanguard might eventually shift its perspective on cryptocurrencies. Boomberg’s senior ETF analyst, Eric Balchunas, suggests that the growing need for wealth expansion and diversified investment portfolios could persuade the Valley Forge, Pennsylvania-headquartered company to reconsider its stance on digital currencies.
