Key Takeaways
- Vanguard CEO Tim Buckley maintains opposition to Bitcoin ETFs for retirement portfolios.
- Buckley questions Bitcoin's store of value, citing its volatility during the 2022 stock market crash.
- Despite customer pressure, Vanguard has no plans to offer Bitcoin ETFs or crypto products.
Vanguard CEO Tim Buckley has reiterated his stance against offering Bitcoin exchange-traded funds (ETFs).
Despite facing inquiries and criticism from customers, Buckley remains firm in his belief that Bitcoin ETFs are not suitable for long-term retirement portfolios due to their speculative nature.
Buckley’s concerns about Bitcoin
Buckley has expressed doubts about Bitcoin’s role as a store of value.
He points out that during the stock market crash of 2022, Bitcoin’s value declined alongside traditional stocks.
He claims that this volatility reinforces his view that Bitcoin is a speculative asset, unfit for inclusion in long-term investment strategies.
Vanguard’s position amidst growing ETF trend
Despite the approval of 11 spot Bitcoin ETFs by the U.S. Securities and Exchange Commission, Vanguard has no plans to offer Bitcoin ETFs or other crypto-related products.
This decision has led some customers to move their investments to firms that offer Bitcoin ETFs.
Nevertheless, Vanguard still holds significant indirect exposure to Bitcoin through its 8.24% stake in MicroStrategy.
