Bitcoin ETF

Bitcoin

Spot

<ul>
 <li>Buckley went on to say that Bitcoin is only a speculation asset.</li>
 <li>The cryptocurrency sector as a whole is very speculative and unregulated as per the firm.</li>
</ul>
Investment banking behemoth Vanguard’s chairman of the board and chief executive officer Tim Buckley has reiterated his firm’s intention to stay out of the spot Bitcoin exchange-traded fund market.
According to Buckley, his company has been getting a lot of inquiries on the timing of potential spot Bitcoin exchange-traded funds. According to him, they were even asked when the company might reconsider the product. In response, <a href="https://thenewscrypto.com/vanguards-spot-bitcoin-etf-rejection-ignites-backlash/" target="_blank" rel="noopener noreferrer nofollow">Vanguard’s</a> chief executive officer restated the company’s position on spot Bitcoin exchange-traded funds (ETFs), but with a caveat.
<h3 class="wp-block-heading" id="h-firm-and-sharp-stance">Firm and Sharp Stance</h3>
Buckley claims that a shift in <a href="https://thenewscrypto.com/bitcoin-investor-allocation-portfolio-surpasses-gold-as-per-jpmorgan/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s</a> asset class is the one scenario in which Vanguard may contemplate entering the spot Bitcoin ETF market. As per the CEO, “it does not belong in a long-term portfolio” and “it’s not a store of value.” That is Vanguard’s position on Bitcoin exchange-traded funds. Buckley went on to say that Bitcoin is only a speculation asset as it lacks underlying cash flow.
For what seems like an eternity, Vanguard has been adamant about its “no-crypto” position. Not long after the eleven spot Bitcoin ETFs were greenlit by the U.S <a href="http://sec.gov" target="_blank" rel="noopener noreferrer nofollow">SEC</a>, Vanguard made it plain that it would not be embracing the likes of <a href="https://www.blackrock.com/corporate/global-directory" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a> and Grayscale Investments. The investment management company eliminated Bitcoin futures contracts from its brokerage services to further emphasize their viewpoint.
Some of the reasons given by Vanguard include the fact that the cryptocurrency sector as a whole is very speculative and unregulated. These characteristics are at odds with the firm’s current long-term investment policy, as it was pointed out. Not only is Vanguard wary about Bitcoin, but it has no plans to offer any other high-risk product.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/hong-kong-sfc-adds-crypto-exchange-mexc-to-warning-list/" target="_blank" rel="noopener noreferrer nofollow">Hong Kong SFC Adds Crypto Exchange MEXC to Warning List</a>

Vanguard CEO Reaffirms Stance Against Spot Bitcoin ETFs

Table of Contents

TheNewsCrypto

Other articles published on Mar 16, 2024

The Investor’s Guide to High Returns: Shiba Inu, Solana, and Furrever Token’s Market Mastery

Solana DeFi Ecosystem Thrives: DEX Volume Peaks as TVL Hits Two-Year High

Kelexo (KLXO) Lending Platform Gains Momentum Among Avalanche & Tether Investors

Memeinator’s Social Media Domination Could Trigger $1 Price Target

Starbucks Stops Its NFT Program Odyssey To Unlock the Next Chapter

Sui (SUI) and Near Protocol (NEAR) drop, while Algotech (ALGT) emerges as top whale pick

Join our free newsletter for daily crypto updates!