Bitcoin

Grayscale Bitcoin Trust

Spot

In a surprising move, Vanguard, a leading investment management firm, has reportedly blocked clients from accessing publicly traded, SEC-approved Bitcoin ETFs. Customers can now only sell, but not buy, Grayscale Bitcoin Trust (GBTC) assets.
Vanguard's decision applies to all spot Bitcoin ETFs that its customers are no longer allowed to purchase. This move left many investors shocked and disappointed.
Sharing his experience, a Vanguard customer said: “The situation is worse than I thought. I called and the answer I got was 'We do not allow purchases of these at this time because they do not fit Vanguard's investment philosophy.'”
Related News: <a href="https://en.bitcoinsistemi.com/winners-are-emerging-in-the-bitcoin-spot-etf-race-which-companys-etf-is-leading-here-is-the-latest-data/" target="_blank" rel="noopener noreferrer nofollow">Winners are Emerging in the Bitcoin Spot ETF Race: Which Company's ETF is Leading? Here is the Latest Data</a>
Vanguard confirmed this information, stating that it has no plans to offer Bitcoin ETFs or any other cryptocurrency products. The company spokesperson explained that 'the high volatility of cryptocurrencies is contrary to its goals of helping investors achieve positive real returns over the long term.'
On the company's website, clients trying to purchase BlackRock's IBIT stock were told that the transaction could not be completed, stating that “due to a number of variables, including regulatory restrictions, corporate actions, or various trading and/or exchange limitations, securities may not be available for purchase at Vanguard.”
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/vanguard-prevents-clients-from-buying-bitcoin-spot-etfs-clients-will-only-be-able-to-sell/" rel="noopener noreferrer nofollow">Vanguard Prevents Clients From Buying Bitcoin Spot ETFs – Clients Will Only Be Able to Sell</a>

Vanguard Prevents Clients From Buying Bitcoin Spot ETFs – Clients Will Only Be Able to Sell

Bitcoin Sistemi EN

Other articles published on Jan 11, 2024

SEC Bent Rules for Spot Bitcoin ETF Approval: Commissioner Uyeda

Ethereum Classic Price Massive Double-Digit Rally Hits Pause, $50 ETC Up Next Or Sell-Off?

Elon Musk discusses idea of using Bitcoin on Mars

The DAO Hack and Ethereum Classic’s Journey: Analysis and Predictions

Hedera and Algorand Forge Alliance for Decentralized Wallet Recovery

Crypto gamblers cash in on the spot Bitcoin ETF approval; some dispute results

Join our free newsletter for daily crypto updates!