📣 Vanguard Maintains Its Stand Against Bitcoin ETF Integration
postedΒ 16 Mar 2024
Despite considerable trading activity and appeals from some prominent clients, Vanguard, the asset management company, persists in its refusal to add Bitcoin ETFs to its investment product lineup.
This was confirmed by CEO Tim Buckley, who views Bitcoin as an asset that is too speculative to offer substantial value as a wealth accumulation method.
Buckley further advised against the inclusion of Bitcoin ETFs or direct Bitcoin investments in pension funds, emphasizing the cryptocurrency's volatility.
When stocks got hammered in the recent crisis, Bitcoin went right with them,Buckley noted.
Although Buckley's remarks reflect Vanguard's current policy, he did not rule out the possibility of future reassessment should the nature of the asset class transform. Meanwhile, Vanguard maintains its investment in MicroStrategy, which holds a significant portion of its portfolio in Bitcoin, with an 8.24% share ownership.
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