Cathie Wood Openly Criticizes Vanguard For Rejecting Bitcoin ETFs
Cathie Wood criticizes Vanguard's rejection of Bitcoin ETFs, Vanguard customers starts switching to crypto-friendly platforms like Fidelity.
The SEC has approved Bitcoin ETFs, a big step for cryptocurrencies. However, investment giant Vanguard is not adding Bitcoin ETFs to its options. Cathie Wood, CEO of Ark Invest, is openly disappointed with Vanguard's decision, she expressed her disappointment and concern over Vanguard’s decision. She described it as “terrible,” emphasizing how they could make investors miss the opportunity to engage with the first global, decentralized monetary system
Vanguard's strict no-crypto policy is causing some customers to leave. They're moving to other platforms offering Bitcoin ETFs. This shows a growing interest in crypto investments among today's investors.
Vanguard’s decision has led to a backlash on social media, with hashtags like #BoycottVanguard. Investors are encouraged to move their 401(k) to more crypto-friendly platforms, such as Fidelity.
Despite Vanguard's current resistance, experts like Eric Balchunas from Bloomberg think they might change their stance in the future. As Vanguard grows, offering different types of investments, including crypto, might become more important.
