Bitcoin ETFs Shut Out: Vanguard And Merrill Lynch Deny Customers Access
Summary
Bitcoin has been approved for trading on major US exchanges through Bitcoin ETFs, but Vanguard and Merrill Lynch have chosen not to offer exposure to Bitcoin, citing weak investment cases for digital assets. This has led investors to move funds from Vanguard to Bitcoin ETF issuer Fidelity in protest. The decision highlights a divide within the asset management industry regarding the acceptance and adoption of digital assets, and is expected to push investors toward asset managers that allow investments in Bitcoin ETFs. The price of BTC has remained unaffected despite the approval of Bitcoin ETFs.
