Maintains Anti-Crypto Stance, Halts Bitcoin Futures ETF Purchases

Vanguard, a prominent global asset management leader, has consistently maintained a skeptical stance towards Bitcoin. Recently, the company announced a suspension of Bitcoin futures ETF acquisitions on its platform.

 A representative from Vanguard confirmed to Axios the cessation of all purchases related to cryptocurrency products. This strategic move aligns with Vanguard's commitment to offering a core suite of products and services that align with its guiding principles and objectives.

Crypto.news had previously reported on Vanguard's decision to exclude spot Bitcoin ETFs from its platform, even after the U.S. SEC's approval. Additionally, Vanguard clarified its lack of intent to introduce similar offerings.

The Vanguard spokesperson's statement underscored the immediacy of the decision: "Effective immediately, Vanguard will cease the purchase of any cryptocurrency products, including Bitcoin futures ETFs." In contrast, Vanguard's competitors, BlackRock and Fidelity, have embraced Bitcoin by launching the iShares Bitcoin ETF (IBIT) and Wise Origin Bitcoin Trust (FBTC), both of which demonstrated significant performance on their debut trading day.

There's speculation circulating that Vanguard might eventually reconsider its perspective on cryptocurrencies. Bloomberg's senior ETF analyst, Eric Balchunas, suggests that the growing demand for wealth expansion and diversified investment portfolios could potentially prompt the Pennsylvania-based company to reassess its stance on digital currencies.