©Reuters.
VALLEY FORGE, PA – Vanguard, the Pennsylvania-based investment management giant, announced its withdrawal from trading bitcoin futures, confirming the company’s position not to participate in the U.S. fund market bitcoin exchange traded funds (ETFs). The move is in line with Vanguard’s traditionally conservative approach to investing, even as some of its peers, like BlackRock and Fidelity, have moved into offering cryptocurrency-related products.
This decision sparked a wave of dissatisfaction from customers, as evidenced by the avalanche of reactions on social media platforms. A number of clients have expressed dissatisfaction with Vanguard’s choice, with some indicating their intention to move their investments to alternative firms that offer crypto products.
This development coincides with a decline in the bitcoin market, although Vanguard’s withdrawal from bitcoin futures trading does not directly imply a causal link to the decline in the cryptocurrency’s value.
This article was generated and translated with the help of AI and reviewed by an editor. For more information, see our T&Cs.