Vanguard will soften anti-ETF stance, analyst predicts
Bloomberg’s senior ETF analyst Eric Balchunas predicts a potential soften ing in asset manager Vanguard’s rigid stance against spot Bitcoin exchange-traded funds (ETFs). Recognized for its conservatism, Vanguard recently gained notoriety for maintaining a considerable di stance from Bitcoin (BTC) and other digital currencies due to the sector’s volatile nature. However, Balchunas suggests that the growing necessity for wealth expansion and diversified investments might nudge the Valley Forge, Pennsylvania-based firm in the opposite direction. Vanguard, which manages assets valued at about $7.7 trillion, will likely reevaluate its position on alternative assets like spot Bitcoin ETFs, Balchunas says. Vanguard’s anti-bitcoin ETF stance is totally on brand and would’ve made Bogle proud. That said, I think they will soften in the coming years as they build their advisory biz, they’ll need to have access to alts. They recently got into PE for this reason. I wrot...