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The 11 Bitcoin ETFs approved by the SEC for the first time yesterday began trading on the 11th, but Vanguard, a major ETF and asset management company, has decided not to provide customers with access to Bitcoin ETFs.
connection: All 11 Bitcoin ETFs listed, SEC approved for the first time in U.S. history for spot ETFs
Multiple U.S. media outlets contacted a Vanguard customer service representative who said Bitcoin ETFs are not available on the platform because they are “highly speculative, unregulated” and do not fit with the company’s long-term investment philosophy. It is said that The platform also doesn’t allow other riskier types of investments, such as leveraged ETFs.
He also said there are no plans to apply for proprietary branded Bitcoin spot ETFs, such as those offered by BlackRock or Fidelity.
It appears that it is now possible to trade Bitcoin spot ETFs in the US from accounts at major brokerage firms such as E*TRADE, Charles Schwab, and Fidelity. Additionally, investment app Robinhood announced yesterday that it plans to list a Bitcoin ETF.
connection: “Robinhood” CEO is keen on handling Bitcoin ETFs
Vanguard (Vanguard Group) is the world’s second-largest provider of mutual funds and exchange-traded funds (ETFs) after BlackRock, with total assets under management of 7.2 trillion as of July 31, 2023.
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