Vanguard’s Bitcoin Move Prompts Investor to Transfer all Assets to Fidelity

10 months ago 22

ARTICLE AD BOX

Vanguard Investments’ decision to restrict access to spot Bitcoin exchange-traded funds (ETFs), following its choice to consider future Bitcoin ETFs, prompts a shift among both the crypto community and analysts. Will this influence a change in their stance?

One prominent crypto analyst told his large social media following, that rumors are going around that this may be the case.

Will Vanguard Reverse its Decision against Bitcoin Products?

Crypto commentator Marty Party claims to his 61,200 followers on X (formerly Twitter), that Vanguard Group are questioning its decision over whether or not it was a good idea to shun Bitcoin products.

“Rumors starting that Vanguard Group are reconsidering their anti-Bitcoin stance after a mass exodus from their products last week.”

While the claims have not been confirmed by the investment group itself, other prominent players in the crypto industry are indicating that it might

Jameson Loop told his 455,900 followers on X that he is aware of an individual who transferred all their assets to another investment group purely because of its stances towards Bitcoin in recent times.

“I know someone who moved their entire portfolio from Vanguard Group to Fidelity last week solely because of Vanguard’s hypocritical Bitcoin stance,” Loop stated.

Vanguard made the Decision following Several Bitcoin ETF Approvals

On January 11, BeInCrypto reported that Vanguard decided not to offer its customers recently approved spot Bitcoin ETPs. The move sparked a wave of backlash and revelations of more shadowy operations at the company.

Lead market analyst at Swan, Sam Callahan, advised his 24,500 X followers how to transfer their accounts out of Vanguard.

Just a day before, on January 10, the United States Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETF applications from major asset management firms, including the world’s largest, BlackRock.