Vanguard rejects Spot Bitcoin ETFs, citing weak investment cases and volatility concerns.
Clients express frustration, initiating a response rally on social media.
In a surprising turn of events, Vanguard, the $7.7 trillion asset management giant, has announced that it will not be participating in the newly approved Spot Bitcoin ETFs, diverging from the trend set by other major firms. The decision comes on the heels of the US Securities and Exchange Commission’s (SEC) landmark approval of 11 Spot Bitcoin ETFs, a move that has generated significant excitement in the digital asset industry.
