Vanguard reaffirms no listing of Ethereum spot ETF; Hashdex withdraws Ethereum ETF application
Fund issuer Vanguard reiterated that cryptocurrency products are not suitable for balanced, long-term investment portfolios and stated that it will not launch an Ethereum spot ETF. Another issuer, Hashdex, has withdrawn its application for an Ethereum spot ETF from the SEC.
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Vanguard Reiterates Cryptocurrency Assets Not Suitable for “Long-Term Investment”
Hashdex Withdraws Ethereum ETF Proposal
Vanguard Reiterates Cryptocurrency Assets Not Suitable for “Long-Term Investment”
Vanguard, with assets under management of up to $7.7 trillion and being the inventor of ETFs, still firmly refuses to launch a Bitcoin ETF despite competitors such as Fidelity and Charles Schwab offering such products since the introduction of a Bitcoin ETF in January this year.
(
ETF Inventor Withdraws! Vanguard Exits Bitcoin Futures, Consolidating “No Cryptocurrency” Investment Position
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A spokesperson told Blockworks that while evaluating its brokerage business and new products entering the market, an Ethereum spot ETF will not be available on Vanguard. We believe that cryptocurrency products are not aligned with the asset classes we focus on, such as stocks, bonds, and cash, which Vanguard considers as the foundation of a balanced, long-term investment portfolio.
Salim Ramji, who previously led the ETF business at BlackRock and assisted in planning a Bitcoin spot ETF, will become the CEO of Vanguard in July and is believed to have the potential to change Vanguard’s stance.
However, in a May interview with Barron’s, he indicated that he will seek to maintain “consistency” in the types of products and services offered by Vanguard.
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Vanguard Appoints Former BlackRock Index Investment Head as CEO, Will the “No Cryptocurrency” Position Change?
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Hashdex Withdraws Ethereum ETF Proposal
Previously, it was reported that the SEC approved eight Ethereum spot ETFs on the 23rd, but Hashdex was not included. According to a withdrawal notice published by Nasdaq on the 28th, Hashdex withdrew its application on the 24th.
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Eight Ethereum Spot ETFs Officially Approved, Issuance and Listing Still Awaited
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For other Ethereum spot ETFs, issuers still need to wait for the effectiveness of the S-1 registration statement before trading can begin. Analysts speculate that it may take several weeks.
Withdrawal Notice
Hashdex
Salim Ramji
Vanguard
Read more:
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Three Bitcoin Spot ETFs to be Delayed, Analyst: 90% Chance of Clearance on January 10
