In a surprising move, Vanguard, a leading investment management firm, has reportedly blocked clients from accessing publicly traded, SEC-approved Bitcoin ETFs. Customers are now just Grayscale Bitcoin Trust (GBTC) It can sell its assets but cannot buy them.
Vanguard’s decision covers all spot Bitcoin ETFs that its customers are no longer allowed to purchase. This move left many investors shocked and disappointed.
Sharing his experience, a Vanguard customer said: “The situation is worse than I thought. “I called and the answer I got was ‘We do not allow purchases of these at this time because they do not align with Vanguard’s investment philosophy.'”
Vanguard, Bitcoin ETFs or any other cryptocurrency The unit confirmed this information, stating that it has no plans to offer the product. A company spokesperson explained that ‘the high volatility of cryptocurrencies runs counter to their goal of helping investors achieve positive real returns over the long term.’
On the company’s website, clients attempting to purchase BlackRock’s IBIT stock were told that the transaction could not be completed, stating that “due to a number of variables, including regulatory restrictions, corporate actions, or various trading and/or exchange limitations, securities may not be available for purchase at Vanguard.”
*This is not investment advice.
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