Since their launch in January, spot Bitcoin ETFs have experienced particular popularity. Several asset investment companies have positioned themselves to offer these financial instruments to their clients. This is not the case for Vanguard, whose CEO has clearly indicated that Bitcoin ETFs are not part of the firm’s plans.
Vanguard CEO’s Resolute Stance on Bitcoin Spot ETFs
Tim Buckley, CEO of Vanguard, an asset management company, spoke about the possibility for the company he runs to position itself in Bitcoin ETFs. His position on the subject is particularly resolute and clear.
The boss explains that Vanguard has no intention of incorporating spot Bitcoin ETFs into its investment offering. To justify this determined position, he invokes concerns linked to speculation.
Tim Buckley describes bitcoin as a “immature asset class”. For him, bitcoin is nothing more than a speculative asset. A nature that would make the flagship crypto unsuitable for long-term investment portfolios.
The boss’s position has the merit of being consistent with his previously expressed positions against the inclusion of bitcoin in long-term portfolios. It reflects Vanguard’s commitment to investing in tangible assets.
A position that could change?
Certainly, Tim Buckley has been clear that Vanguard will not offer spot Bitcoin ETFs to its clients and has no plans to change his mind on that. Despite these statements, this change is possible because Tim Buckley is preparing to leave his position as CEO.
Therefore, we cannot exclude that the next boss of Vanguard will express positions different from those of Tim Buckley on the subject of ETFs. Basically, if this happened, it would not in itself be a surprise, especially since there are precedents in this area.
One notable example is Larry Fink, the CEO of asset manager BlackRock. Before becoming a strong advocate of bitcoin and spot Bitcoin ETFs today, the boss was very critical of bitcoin.
Today, BlackRock’s Bitcoin Spot ETF is making rain and shine on this market with more than satisfactory performance since its launch. This, despite competition from certain formidable players like VanEck.
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