US EditionVanguard Exec Says Bitcoin Is Like 'A Digital Labubu'
Vanguard allows spot Bitcoin ETFs on its platform but will not launch crypto ETFs or advise clients, citing Bitcoin's speculative nature and lack of durable economic value.
- On Thursday at Bloomberg's ETFs in Depth conference in New York, John Ameriks, Vanguard Group Global Head of Quantitative Equity, likened Bitcoin to a `digital Labubu`, framing it as speculative.
- Following tests through market volatility, Vanguard Group recently opened its brokerage platform to select spot Bitcoin exchange-traded funds but will not launch its own crypto ETFs or offer trading guidance.
- Ameriks argued Bitcoin fails Vanguard's long-term criteria, citing its lack of income, compounding, and cash-flow traits, and said its short history limits a clear investment thesis.
- Vanguard's platform change gives its 50 million clients access to regulated spot Bitcoin ETFs from rivals like BlackRock and Fidelity, benefiting competitors and marking a reversal of skepticism.
- Market technicals show BTC rebounded near $85,000 earlier this month but remains below key moving averages with the 100-day EMA near $101,700, and Ameriks said bitcoin might only prove non-speculative in limited conditions like high inflation or political instability.
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Vanguard Executive Compares Bitcoin To A ‘Digital Labubu’ Even As Firm Allows Client Access To Crypto ETFs
A senior Vanguard executive has asserted that Bitcoin is a purely speculative asset, likening it to a collectible toy, even as the Wall Street behemoth opened the door to crypto-tied exchange-traded funds. Bitcoin Is No Better Than A Plush Toy: Vanguard Analyst Speaking during Bloomberg’s ETFs in Depth conference in New York on Thursday, Vanguard’s […]
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