- Spot Bitcoin ETFs were previously the subject of a comparable position from the business.
- Senior ETF analyst Eric Balchunas took to social media to voice his dissatisfaction.
One of the most prominent American financial advisory firms, Vanguard Group, is under a lot of heat for not supporting Spot Ethereum ETFs. This decision is made in light of the current regulatory changes and the increasing interest in digital assets. Spot Bitcoin ETFs were previously the subject of a comparable position from the business.
Senior ETF analyst Eric Balchunas of Bloomberg took to social media to voice his dissatisfaction. He harshly lambasted Vanguard’s position on Spot Ethereum ETFs in an X post. Also, he thought the company was taking on a “Nanny role” and referred to the action as “silly.”
Cautious Stance on ETH and BTC ETF
As Balchunas put it cynically, Vanguard’s investors are “the smartest money on the planet” and can make educated investment judgments.
Balchunas wrote on X:
“Crypto was able to shift the stance of some in the highest rungs of government but not Vanguard, who maintains their platform ban for Ether ETFs which are ‘not aligned’ with building a well-balanced, long-term portfolio.”
Balchunas seemed to comprehend Vanguard’s cautious stance on Ethereum and Bitcoin ETFs, but he still thought it was excessive, notwithstanding his criticism. The analyst also noted that Vanguard is unique among asset managers in how it does business. As he pointed out, the business is structured more like a cooperative and isn’t as concerned with making money as it formerly was.
Following the SEC’s approval of many issuers’ 19b-4 filings for Spot Ethereum ETFs, the investment adviser has made their choice. These exchange-traded funds, however, are not yet tradeable. Fund issuers’ S-1 registration statements are still pending SEC clearance. According to the Bloomberg analyst’s earlier prediction, the majority of people anticipate these products to be launched by July 4, 2024.
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