Vanguard Group Inc. which manages a staggering $8.6 trillion in assets, has adopted a cautious approach towards the cryptocurrency market, particularly after the debut of spot Bitcoin ETF in the United States.
The firm, known for its traditional investment philosophy, chose not only to exclude spot Bitcoin ETF products but also removed futures-backed Bitcoin funds from its offerings. This conservative move has sparked widespread controversy, leading to the emergence of the #BoycottVanguard movement on social media.
In a market where major players like BlackRock Inc., Fidelity Investments, and Invesco Ltd. have embraced spot Bitcoin ETFs, Vanguard’s decision to stay on the sidelines showcases a significant departure from the latest industry trends.
The company’s aversion to commodities, considering them speculative and lacking intrinsic value, has become a focal point of debate within the crypto community. CEO of Ark Invest Cathie Wood recently criticized Vanguard for being reluctan
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