Bitcoin Is a “Digital Labubu,” Says Vanguard — Yet It Opens ETF Trading

Vanguard Group now allows clients to trade spot Bitcoin exchange-traded funds, but the $12 trillion asset manager’s skepticism toward crypto remains firmly intact. According to Bloomberg, John Ameriks, Vanguard’s global head of quantitative equity, compared Bitcoin to a viral plush toy collectible rather than a productive asset at Bloomberg’s ETFs in Depth conference on Thursday, saying it lacks the income, compounding, and cash flow that the firm seeks in long-term investments. “It’s difficult for me t ...