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Vanguard’s Departing CEO Keeps Anti-BTC ETF Viewpoint Despite Inquiries

In Vanguard’s recent video, Buckley raised caution against the inclusion of BTC ETFs in its retirement investment projects.

ShahZaib Ahmed

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Bitcoin Spot and Futures ETFs guide article

Tim Buckley, the CEO of Vanguard Group, has maintained a resilient hostility against BTC exchange-traded funds despite confronting criticism. Although the platform intends to offer ETFs in line with the ongoing inquiries, Buckley’s stance is still antagonistic and the clients have condemned him for this. In Vanguard’s recent video, Buckley raised caution against the inclusion of BTC ETFs in its retirement investment projects.

Tim Buckley Maintains a Bitcoin Hostile Stance Ideology, Despite Criticism

As per him, the respective assets are highly volatile and their addition to retirement plans could be quite risky. He asserted that Bitcoin ETFs do not belong in long-term retirement portfolios as they are very speculative. Buckley additionally said that Bitcoin faces several questions regarding being an asset for value storage.

He added that the crypto token went through a huge dip during 2022’s stock market collapse. He mentioned that BTC’s reaction to the bear market was just like the other crypto assets. Back in 2021, the top crypto token touched an all-time high price of up to $69,000. It has surpassed the respective record this week and reached $73,835.

Also Read: Open Interest in Dogecoin Futures Spikes to 7 Billion DOGE, Signals Risky Bets

Nonetheless, in 2022, it experienced a sheer dip, crashing to $16,000. A 21% decline took place in the S&P 500 during 2022’s initial half. The Federal Reserve’s increases in interest rates took a significant credit for that. After the US Securities and Exchange Commission approved eleven spot BTC ETFs, Vanguard swiftly announced the plan not to provide the product.

Vanguard Sees Significant Indirect Bitcoin

It reportedly declared that it does not have a strategy to offer ETFs or the rest of the products related to crypto. The consumers opposed the respective decision. Contrarily, although the firm does not intend to offer a cryptocurrency product, its indirect Bitcoin exposure is significant. It is the 2nd-biggest MicroStrategy holder.

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