Vanguard says Bitcoin lacks income and cash‑flow, calls it a ‘digital Labubu’
The post Vanguard says Bitcoin lacks income and cash‑flow, calls it a ‘digital Labubu’ appeared on BitcoinEthereumNews.com.
Vanguard pushed a sharp line on Bitcoin after opening its platform to spot ETF trading, saying the firm still sees no long-term case for the coin. The comment came from John Ameriks, the firm’s global head of quantitative equity, who spoke at Bloomberg’s ETFs in Depth event in New York. He said the coin brings no income, no compounding, and no cash flow, and said the firm views it as a collectible rather than a productive asset. John also said the firm has not seen proof that the technology behind it offers lasting economic value and said, “it’s difficult for me to think about Bitcoin as anything more than a digital Labubu,” referring to the plush toy that went viral. His comments landed while the coin trades near $92,000, retreating from $126,000 only weeks earlier. Vanguard’s stance lines up with its earlier view of crypto, which it has called speculative. The firm oversees about $12 trillion and still does not plan to launch its own crypto ETFs. But it opened trading access earlier this month for investors who want to buy and sell these funds. John said the decision came after watching ETFs tied to Bitcoin build records since January 2024. He said the firm wanted to make sure the products show “what’s on the tin, the way that they’re described,” before giving people access. John also stated that Vanguard will not provide any advice on when to buy or sell and will not recommend any specific tokens to clients. A spokesperson said the firm does see potential in blockchain as a tool that may improve how markets work, even though that view does not change the firm’s position on the token itself. Vanguard lets users trade ETFs but sticks with its view John did point out a few cases…
