Cathie Wood is openly welcoming Vanguard investors to the Bitcoin world through the ARK 21Shares Bitcoin ETF (ARKB).
In her announcement, she emphasized that Bitcoin is a “significant technological and monetary innovation.”
Vanguard U-turn
Vanguard investors can now gain exposure to Bitcoin without having to deal with the usual complexities of owning Bitcoin directly, such as setting up a cryptocurrency wallet or managing private keys. Simply add the ETF to your existing brokerage account.
The financial giant has lifted its long-standing ban on crypto investment products. Starting December 2, customers of Vanguard’s intermediary platform can purchase and trade regulated crypto exchange traded funds (ETFs) and mutual funds.
Allowed products include funds tied to major digital assets such as Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL).
Vanguard is one of the world’s largest asset managers, with more than $11 trillion in assets under management and a customer base of more than 50 million brokerage accounts.
“New era”
Meanwhile, Bitwise CEO Hunter Horsley announced that the leading asset management firm, which has $350 billion in assets under management (AUM) and approximately 10,000 financial advisors, has approved the Bitwise Bitcoin ETF ($BITB) for its clients.
Horsley argues that the cryptocurrency industry is currently entering a “new era.”
