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<p class="is-style-lead">Bloomberg’s senior ETF analyst Eric Balchunas predicts a potential softening in asset manager Vanguard’s rigid stance against spot Bitcoin exchange-traded funds (ETFs).</p> 
<p>Recognized for its conservatism, Vanguard recently gained notoriety for maintaining a considerable distance from Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) and other digital currencies due to the sector’s volatile nature.</p> 
<p>However, Balchunas suggests that the growing necessity for wealth expansion and diversified investments might nudge the Valley Forge, Pennsylvania-based firm in the opposite direction.</p> 
<p>Vanguard, which manages assets valued at about $7.7 trillion, will likely reevaluate its position on alternative assets like spot Bitcoin ETFs, Balchunas says.</p> 
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   <p lang="en" dir="ltr">Vanguard’s anti-bitcoin ETF stance is totally on brand and would’ve made Bogle proud. That said, I think they will soften in the coming years as they build their advisory biz, they’ll need to have access to alts. They recently got into PE for this reason. I wrote about it today. <a href="https://t.co/AFaD85B5ZR" target="_blank">pic.twitter.com/AFaD85B5ZR</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1745956100958986602?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 12, 2024</a>
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<p>This conjecture arose amidst Vanguard’s recent <a href="https://crypto.news/vanguard-blocks-spot-bitcoin-etf-purchases/" target="_blank" rel="noreferrer noopener">move</a> to limit customer access to the newly <a href="https://crypto.news/sec-approves-spot-bitcoin-etf-on-accelerated-basis/" target="_blank" rel="noreferrer noopener">approved</a> spot Bitcoin ETFs, a decision that sparked controversy in the crypto community.&nbsp;</p> 
<p>Some Vanguard clients, feeling constrained, have since transferred their funds to other firms that are more open to digital currencies.</p> 
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   <p lang="en" dir="ltr">Just transferred my 401k from Vanguard to Fidelity. It took about 15 minutes.<br><br>If you have an account with a broker currently blocking access to <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#bitcoin</a> ETFs, close it and get out.<br><br>Make these boomers hurt</p>— Julian Fahrer (@Julian__Fahrer) <a href="https://twitter.com/Julian__Fahrer/status/1745510904698167319?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 11, 2024</a>
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<p>In a further surprising move, Vanguard announced plans to <a href="https://www.axios.com/2024/01/12/vanguard-bitcoin-futures" target="_blank" rel="noreferrer noopener">withdraw</a> Bitcoin futures ETFs from its platform, affirming its dedication to core investment values. </p> 
<p>This decision, despite the burgeoning interest in the crypto market, was seen as a demonstration of Vanguard’s enduring skepticism of the crypto market. </p> 
<p> You might also like: <a href="https://crypto.news/vanguard-other-tradfi-giants-boycott-spot-bitcoin-etfs/"> Vanguard, other tradfi giants boycott spot Bitcoin ETFs </a> </p> 
<p>However, some of the company’s investment trends tell a slightly different narrative. While Vanguard remains hesitant about Bitcoin, its substantial investment in MicroStrategy, a leading public holder of Bitcoin, has raised eyebrows.&nbsp;</p> 
<p>The company, co-founded by Bitcoin enthusiast Michael Saylor, holds a staggering 190,000 BTC, currently valued at more than $8.1 billion.&nbsp;</p> 
<p>According to Yahoo Finance, as of September 2023, Vanguard <a href="https://finance.yahoo.com/quote/MSTR/holders/" target="_blank" rel="noreferrer noopener">holds</a> 1 million MicroStrategy shares, which were then worth more than $547 million. That makes them the second-largest institutional shareholder in the company after Capital International Investors.</p> 
<p>Vanguard also reportedly <a href="https://finance.yahoo.com/news/vanguard-now-owns-560-million-175847747.html" target="_blank" rel="noreferrer noopener">invested</a> heavily in Bitcoin mining companies last year, including Riot Platforms and Marathon Digital.</p> 
<p>For that reason, analysts like Balchunas are contending that while Vanguard may be saying no to <a href="https://crypto.news/live/bitcoin-etf-news/" target="_blank" rel="noreferrer noopener">Bitcoin ETFs</a> for now, their investments hint at a more nuanced approach to cryptocurrencies.</p> 
<p> Read more: <a href="https://crypto.news/spot-bitcoin-etfs-show-strong-performance-approval/"> Spot Bitcoin ETFs show strong performance days after approval </a> </p>

Vanguard will soften anti-ETF stance, analyst predicts

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