Experts explain why two ETF industry giants are sitting out Bitcoin-ETF race
Despite all the hype surrounding spot a Bitcoin (BTC) exchange traded fund (ETF), two of the biggest issuers in the industry are brushing off the buildup. As journalists from Bloomberg note, two of the industry ’s three largest ETF companies are deliberately sitting out on the bid to introduce BTC to the market. The two entities — Vanguard and State Street — are poised to miss out on the frothing speculation posed by the asset’s institutional introduction. Officials from Vanguard said that the company does not intend to offer a spot Bitcoin ETF or any other cryptocurrency-related products. Vanguard believes that the investment attractiveness of cryptocurrencies could be more substantial. You might also like: K33 Research: Bitcoin’s return to ATH will be soon thanks to Bitcoin ETF “Unlike stocks and bonds, most crypto assets lack intrinsic economic value and generate no cash flows. And cryptocurrencies’ high volatility runs counter to our goal of helping investors gener...