Here's why financial titan Vanguard is refusing to touch Bitcoin
that Pennsylvania-based financial titan Vanguard is not willing to touch Bitcoin exchange-traded funds, mainly due to the fact that it is generally not interested in commodities. Vanguard, which boasts a total of $7.2 trillion worth of assets under management, tends to view commodities as"pure speculation" since they are"only worth what someone else will pay you."
With that being said, the top analyst believes that Vanguard's decision to impose a blanket ban on Bitcoin ETFs was"a bit nanny state-ish." He claims that their sophisticated investors should be able to decide for themselves whether or not they want to get exposure to the newfangled asset. XRP Rockets 800% in Fund Flows as XRP Price Goes ParabolicIn January, Blackrock successfully launched a Bitcoin ETF, together with a slew of competing products.
According to the latest data, Vanguard's ETFs have a total of $2.6 trillion worth of assets under management. Its biggest ETF products include Vanguard Total Stock Market ETF , Invesco QQQ Trust Series I and Vanguard FTSE Developed Markets ETF .Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.
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