Clients have reported being unable to purchase the recently listed spot ETFs, but interestingly, they can still sell shares of GBTC, Grayscale’s spot Bitcoin ETF. A client reportedly engaged with a company representative who conveyed, “Currently, we aren’t permitting those to be purchased as it doesn’t align with Vanguard’s investment philosophy.”
Vanguard’s decision to limit customer access comes just a day after the SEC granted approval for spot Bitcoin ETFs, marking the first time such approval has been granted. These ETFs generated over $2.3 billion in trading volume on their launch day. The question lingers as to whether this esteemed asset manager will reconsider its position and allow customers to partake in the evolving Bitcoin market.