Prominent investment firm Vanguard is anticipated to reconsider its current anti-Bitcoin position in the near future. However, recent actions by the asset manager reveal a deepening commitment to this stance.

Eric Balchunas, a senior analyst at Bloomberg, anticipates that Vanguard’s traditionally anti-crypto stance may gradually ease in the coming years.

Vanguard’s Anti-Bitcoin Stance to Soften

Balchunas, acknowledging Vanguard’s historically steadfast position against cryptocurrencies as “on brand,” suggested a potential shift in philosophy.

He pointed to the growing imperative for wealth growth, positing that Vanguard’s pursuit of diversified investments may lead to a reconsideration of alternative asset classes, such as Bitcoin and other cryptocurrencies.

“Vanguard’s anti-bitcoin ETF stance is totally on brand and would’ve made Bogle proud. That said, I think they will soften in the coming years as they build their advisory business, they’ll need to have access to alternative asset classes,” Balchunas added.

Read more: Everything BlackRock CEO Larry Fink Said About Bitcoin

Recently, Vanguard drew attention for its decision to restrict customer access to the newly launched spot Bitcoin ETFs. BeInCrypto reported that many Vanguard customers have already redirected their funds to alternative firms in response to these restrictions.

Discontinuing Cryptocurrency Products

Despite industry trends showcasing increased interest in cryptocurrencies, Vanguard is moving in the opposite direction by announcing plans t

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Author: Oluwapelumi Adejumo

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