Vanguard’s apprehensive viewpoint on spot Bitcoin ETFs is exposed to all, with the company refusing to accept even spot ether NTFs on its platform.
The entire picture becomes clearer when the Securities and Exchange Commission grants its consent to the 19b-4 suggestion for exchanges seeking the registration of spot ETH funds. Prior to its release, the SEC needs to accept and agree to the listing requirements pertaining to fund providers. As per industry observers, this will be a long time in the making.
Vanguard has approximately $7.7 trillion in assets under management. When spot Bitcoin ETFs were introduced in early 2024, the company forbade trading on its platform. This was when companies such as Fidelity and Charles Schwab encouraged and provided the products.
According to a Vanguard representative, the company believes that cryptocurrencies are out of sync with the asset segments it provides, which include equities, bonds, and cash. The company understands that these are long-term investment options.
Vanguard’s stand on the issue of cryptocurrencies seems unwavering despite the sector’s approval from the regulator.
BlackRock, an ardent competitor of Vanguard, is providing a Bitcoin fund that now has $20 billion in assets. Spot ether ETFs are presently way behind BTC.
The ex-employee of BlackRock, Salim Ramji, was responsible for the SEC waving the green flag for spot Bitcoin eTFs. He is currently with Vanguard as CEO.
