Vanguard Expands Crypto ETF Trading Despite Executive's Critical View on Bitcoin
John Ameriks, Vanguard's global head of quantitative equity, recently described Bitcoin as a digital "Labubu" at the Bloomberg ETFs in Depth conference in New York, citing the cryptocurrency's lack of cash flow and durable economic value. Despite this critical view, Vanguard has expanded its brokerage platform to permit clients to trade crypto-focused ETFs and mutual funds, providing greater access to crypto exposure.
Clients can now buy and sell funds holding Bitcoin, Ethereum, XRP, and Solana, alongside traditional assets such as gold. However, Vanguard will not provide investment advice related to crypto assets; clients invest at their own discretion.
This move follows the establishment of track records for spot Bitcoin ETFs launched in January 2024. Vanguard, one of the largest asset managers globally, currently manages roughly $12 trillion in assets.
Bitcoin has demonstrated notable volatility, recently trading near $90,000 after peaking above $126,000 in October.
