Vanguard Remains Unmoved on Spot Crypto ETFs: 'No Plans' to Launch Ether Product

IconCryptoNewsTerminal Staff30 May, 2024

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Vanguard Remains Unmoved on Spot Crypto ETFs: 'No Plans' to Launch Ether Product

Vanguard, the asset management behemoth, has reaffirmed its position that it has "no plans" to launch a spot Bitcoin or Ether ETF. Despite the recent SEC approval of a spot Ether ETF, Vanguard remains unyielding in its stance. "Irrespective of last week’s SEC filings approving a spot Ether ETF 19b-4, Vanguard has no plans to launch an ETH spot ETF," a Vanguard spokesperson told Blockworks. This decision aligns with Vanguard's long-held view that cryptocurrencies are "an alternative asset class that is different from the building blocks of a balanced, long-term investment portfolio, like stocks, bonds and cash." This perspective was recently reiterated by Vanguard's incoming CEO, Salim Ramji. Vanguard's reluctance to embrace spot crypto ETFs stems from its cautious approach to the nascent asset class. While acknowledging the potential growth of the crypto market, Vanguard maintains that it needs to mature before becoming a core component of its investment offerings.

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