Will the opponents of virtual currency persist?
Following yesterday’s announcement, ETF and asset management giant Vanguard has told its customers that it will no longer provide access to Bitcoin futures trading.
Yesterday, the company announced that it will no longer provide customers with access to Bitcoin ETFs as it debuts in the US. Following the announcement, many Vanguard users took to social media to protest, saying they would transfer their funds to BlackRock, Fidelity, and others.
Axios said Vanguard’s policies are in line with its “brand identity,” which is rooted in the investment principles of its late founder Jack Bogle, who favors simple, low-cost investments over speculation.
As for Vanguard, when Mr. Bogle’s invention of index funds was derided as “un-American,” he argued that buying the entire S&P 500 was better for long-term returns. Axios commented that one of the company’s principles is that it is moving in the opposite direction from rivals such as BlackRock, which offers Bitcoin ETFs.
connection: US asset management giant Vanguard plans not to offer Bitcoin ETF
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