Vanguard ceases support for Bitcoin futures ETF purchase

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Vanguard, one of many world’s largest asset managers, continues to take care of its anti-Bitcoin sentiment, with the corporate lately stating that it will cease the acquisition of Bitcoin futures exchange-traded funds (ETFs) on its platform.

A Vanguard spokesperson confirmed to Axios that it’s going to cease the acquisition of all crypto-related merchandise. The transfer will permit the asset supervisor to supply buyers a “core set of services and products” in keeping with its coverage and targets. 

As beforehand reported by, Vanguard introduced that the buying and selling of spot Bitcoin ETFs – which had been lately approved by the U.S. Securities and Change Fee (SEC) – can be unavailable on its platform. As well as, the agency stated that it had no plans to launch the same product. 

“Along with spot Bitcoin ETFs not being obtainable for buy on the Vanguard platform, efficient instantly, Vanguard will now not settle for the acquisition of cryptocurrency merchandise, together with Bitcoin futures ETFs.” 

Vanguard spokesperson

Whereas Vanguard appears to be distancing itself from Bitcoin and crypto, rivals reminiscent of BlackRock and Constancy launched the iShares Bitcoin ETF (IBIT) and Smart Origin Bitcoin Belief (FBTC) respectively, with their merchandise being among the many prime performers on the primary day of buying and selling.

Some observers argue that Vanguard will finally heat as much as cryptocurrency.

In line with Boomberg’s senior ETF analyst Eric Balchunas, the rising necessity for wealth enlargement and diversified investments will encourage the Valley Forge, Pennsylvania-based agency to alter its stance.

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