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Vanguard Allows Bitcoin ETF Trading but Labels BTC a 'Speculative Collector's Item'

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Vanguard Group now allows clients to trade spot Bitcoin ETFs, though one of its senior managers, John Ameriks, called Bitcoin a “speculative collector’s item.” Speaking at the Bloomberg ETFs in Depth conference, Ameriks compared BTC to a digital Labubu, noting it lacks income generation and cash flow for a good investment over the long-term. Despite this view, Vanguard opened its platform to select spot Bitcoin ETFs earlier this month, emphasizing the need to verify if these products deliver. The firm remains neutral on client choices and sees potential in blockchain to improve market structure.
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