As the spot Bitcoin fund begins its first day of trading in the United States, users with Vanguard Group brokerage accounts are unable to participate.
When contacted on Thursday, the day after the SEC approved 11 spot funds, customer service representatives from Vanguard Group said Bitcoin ETFs were not available on the platform because the products are considered "highly speculative," "Unregulated" and inconsistent with the company's long-term investment philosophy. The representative also noted that the platform does not allow other types of investments, such as leveraged ETFs.
A company spokesperson confirmed that spot Bitcoin funds cannot be traded on the platform.
"We also have no plans to offer a Vanguard Bitcoin ETF or other crypto-related products - our long-standing view is that the high volatility of cryptocurrencies is inconsistent with our goal of helping investors generate positive real returns over the long term," the spokesperson said. Going in the opposite direction.”