Vanguard CEO Tim Buckley has stated that the asset management firm has no plans to pursue a Bitcoin exchange-traded fund (ETF), unlike its competitors BlackRock and Fidelity. Buckley explained that Vanguard focuses on asset classes with intrinsic value and cash flows, and does not consider Bitcoin or gold as stable assets. A Vanguard spokesperson also expressed skepticism towards cryptocurrencies, citing their lack of intrinsic economic value and high volatility. Despite Vanguard's stance, enthusiasm for a potential Bitcoin ETF continues to grow on Wall Street, with inflows into digital asset funds reaching their highest level since July 2022. The anticipation of a spot ETF approval has also driven up Bitcoin's price and sparked increased interest in crypto trading.
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