Vanguard Group CEO Tim Buckley is standing firm in his decision not to offer the company’s customers spot Bitcoin (BTC) ETF investment opportunities, even though several competitors have already introduced them.
Buckley explains stance on Bitcoin ETFs
Despite facing criticism from customers and ongoing inquiries about the firm’s plans to offer them, Buckley has remained steadfast in his strong opposition to Bitcoin exchange-traded funds (ETFs).
Buckley highlighted Bitcoin’s extreme volatility and speculative nature, noting its lack of stability, reliability as a store of value, and absence of underlying cash flows found in traditional assets such as stocks and bonds.
The firm’s conservative investment strategy, which prioritizes long-term stability and diversified funds, is the basis for its reluctance to integrate Bitcoin ETFs. Vanguard’s dedication to protecting its client’s interests and concentrating on asset classes with established value and cash flows has driven this steadfast position.
In a video released by Vanguard, Buckley advised against including Bitcoin ETFs in retirement investment plans due to the asset’s volatile nature.
Buckley further argued that Bitcoin’s status as a store of value is dubious, highlighting its significant decline during the stock market crash of 2022.
“When stocks plummeted in the recent crisis, Bitcoin followed suit. This highlughts its speculative nature. It’s really challenging to consider its place in a long-term portfolio.
The Vangaurd Group CEO, Tim Buckley
Following the U.S. Securities and Exchange Commission’s (SEC) appr
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Author: Ogwu Osaemezu Emmanuel
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