Following the approval given to Spot Bitcoin ETFs, Ethereum ETFs were also approved.
While positive sentiment towards ETH ETFs continued, it was also wondered how Vanguard, one of the largest investment advisors in the USA, would act regarding ETH ETFs.
At this point, while Vanguard has a negative stance towards spot Bitcoin ETFs, it has taken a similar stance towards spot Ethereum ETFs.
Speaking to Blockworks, a Vanguard Group spokesperson said:
“While we continually evaluate our offerings to customers and evaluate new product introductions to the market, our stance on spot Ethereum ETFs remains unchanged.
Spot ETH ETFs will also not be available for purchase on the Vanguard platform.
“We believe that cryptocurrency products such as BTC and ETH are not compatible with Vanguard's products, which focus on asset classes such as stocks, bonds and cash that we view as the building blocks of a balanced, long-term investment portfolio.”
*This is not investment advice.