Vanguard’s Position
Jim Bianco, founder of Bianco Research, supports Vanguard’s decision not to offer Bitcoin spot ETFs. He argues that Vanguard is a dominant player in the ETF market, with over $2.58 trillion in assets.
BlackRock vs. Vanguard
Bianco compares Vanguard to BlackRock, another ETF giant. BlackRock has invested heavily in Bitcoin ETFs, while Vanguard has not. Despite this, Vanguard has outperformed BlackRock in terms of asset growth and inflows.
Vanguard’s Customer Focus
Bianco believes that Vanguard’s decision is based on the preferences of its 30 million fundholders. These fundholders, he says, are not interested in Bitcoin and prefer Vanguard to focus on improving customer service.
Buckley’s Retirement
Bianco dismisses rumors that Vanguard CEO Tim Buckley is leaving the company due to the Bitcoin ETF decision. He clarifies that Buckley is retiring at the end of the year after nine and a half months of service.
