Vanguard: Bitcoin is an Immature Asset Class
Vanguard has made the decision to not offer Bitcoin ETFs to its clients due to the cryptocurrency’s status as an “immature asset class” and its lack of alignment with the company’s values.
Janel Jackson, head of ETF markets and brokerage at Vanguard, further explained that the company has no intentions of creating any cryptocurrency-based products in the near future, due to the current state of the industry.
Jackson stressed that Vanguard follows a strict decision-making process when considering new offerings, prioritizing the long-term benefits for clients and their investment needs.
Despite the ongoing discussion surrounding Bitcoin and cryptocurrencies, Vanguard does not see them as appropriate holdings for investment portfolios.
It is worth mentioning that on January 10, the Securities and Exchange Commission (SEC) approved applications from 11 issuers, including BlackRock and Fidelity, to launch spot Bitcoin ETFs.
