Ethereum

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Cipher

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 <p class="paragraph">Vanguard Group, Inc. is one of the world’s largest investment <a rel="noopener noreferrer nofollow" title="firms" href="https://thebittimes.com/tag/firms.html">firms</a>, with $7.7 trillion in assets under management (AUM). The <a rel="noopener noreferrer nofollow" title="finance" href="https://thebittimes.com/tag/finance.html">finance</a> <a rel="noopener noreferrer nofollow" title="giant" href="https://thebittimes.com/tag/giant.html">giant</a> shocked the market by refusing to offer the recently approved Bitcoin ETFs to its brokerage’s customers.</p>
 <p class="paragraph">On January 11, Vanguard prevented its customers from gaining exposure to Bitcoin (BTC) through the now legally approved ETFs. As reported by <em>The Block</em>, a company’s spokesperson explained that crypto-related products do not align with its investment vision.</p>
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  <p class="paragraph">“We also have no plans to offer Vanguard Bitcoin ETFs or other crypto-related products – our perspective is long-standing that cryptocurrencies’ high volatility runs counter to our goal of helping investors generate positive real returns over the long term.”</p> <cite>— Vanguard’s spokesperson to The Block</cite>
 </blockquote>
 <p class="paragraph">However, Finbold retrieved public data on <em>CNN Business</em> from the leading Bitcoin <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> companies in the United States, which feature The Vanguard Group, Inc. as a major shareholder in most of them. Interestingly, the <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> sector profitability is highly dependent on Bitcoin’s price action and, thus, volatility.</p>
 <h2 class="wp-block-heading" id="h-vanguard-is-a-major-shareholder-in-bitcoin-mining-companies">Vanguard is a major shareholder in Bitcoin mining companies</h2>
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 <p class="paragraph">First, Vanguard is Marathon Digital’s (NASDAQ: MARA) largest owner, with 8.11% of all shares worth $216.10 million. The self-proclaimed anti-Bitcoin investment firm has recently bought nearly 1 million shares of the largest Bitcoin <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> company.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="282" src="https://cdn.thebittimes.com/images/2024/01/13/547fa9cdd0982d06849bb4a33141caf7.webp" alt class="wp-image-148940" srcset="https://cdn.thebittimes.com/images/2024/01/13/547fa9cdd0982d06849bb4a33141caf7.webp 1024w, https://cdn.thebittimes.com/images/2024/01/13/547fa9cdd0982d06849bb4a33141caf7.webp 300w, https://cdn.thebittimes.com/images/2024/01/13/547fa9cdd0982d06849bb4a33141caf7.webp 768w, https://cdn.thebittimes.com/images/2024/01/13/547fa9cdd0982d06849bb4a33141caf7.webp 1286w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Top 10 owners of Marathon Digital Holdings Inc (NASDAQ: MARA). Source: <em>CNN Business</em>
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 </figure>
 <p class="paragraph">Secondly, Vanguard has a massive position on Riot Platforms Inc. (NASDAQ: RIOT), with 9.12% of all shares worth $236.45 million. Notably, Vanguard is followed by BlackRock Inc. (NYSE: BLK) as the second-largest shareholder, with a little over 5% of shares. The same scenario exists in MARA’s ownership.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="292" src="https://cdn.thebittimes.com/images/2024/01/13/3338033ed64281d86a1f130a69b169d0.webp" alt class="wp-image-148941" srcset="https://cdn.thebittimes.com/images/2024/01/13/3338033ed64281d86a1f130a69b169d0.webp 1024w, https://cdn.thebittimes.com/images/2024/01/13/3338033ed64281d86a1f130a69b169d0.webp 300w, https://cdn.thebittimes.com/images/2024/01/13/3338033ed64281d86a1f130a69b169d0.webp 768w, https://cdn.thebittimes.com/images/2024/01/13/3338033ed64281d86a1f130a69b169d0.webp 1284w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Top 10 owners of Riot Platforms Inc (NASDAQ: RIOT). Source: <em>CNN Business</em>
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 <p class="paragraph">In this context, something similar happens for the other leading U.S. Bitcoin <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> companies. Vanguard is one of the top shareholders of CleanSpark (NASDAQ: CLSK), Cipher Mining (NASDAQ: CIFR), and TeraWulf (NASDAQ: WULF).</p>
 <p class="paragraph">After publicly stating its opposing views to Bitcoin and cryptocurrencies, Vanguard has put itself in a controversial position. Some well-known cryptocurrency investors reported they would be closing their Vanguard retirement accounts in some sort of boycott.</p>
 <p class="paragraph">Now, investors await Vanguard’s following public report to see if anything has changed in its Bitcoin <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> companies’ positions.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/anti-bitcoin-finance-giant-vanguard-is-pumping-money-into-btc-mining-firms-tbt76487.html">https://thebittimes.com/anti-bitcoin-finance-giant-vanguard-is-pumping-money-into-btc-mining-firms-tbt76487.html</a></p>

Anti-Bitcoin finance giant Vanguard is pumping money into BTC mining firms

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