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Popular asset management company Vanguard recently announced that it would not offer spot Bitcoin ETFs. Against spot Bitcoin ETFs, he said that high volatility is bad for creating long-term returns. Despite the interest generated with the entry of spot Bitcoin ETFs, Vanguard confirmed that it does not plan to create a service related to crypto.

In a recent interview, Vanguard leaders Janel Jackson and Andrew Kadjesi made statements about the company’s decision.

Janel Jackson stated that Vanguard does not plan to launch a Bitcoin ETF or a service related to crypto, given the current state of cryptocurrencies. Manager Jackson said that they pay attention to many factors, such as the products having lasting investment value and meeting the needs of customers, before offering a service.

Andrew Kadjeski explained that there are many investment options available to investors, such as where to save for retirement, where to invest for their children’s education costs, and where to keep emergency savings.

According to the statements, despite the growing interest in cryptocurrencies, Vanguard does not currently believe that crypto assets are suitable for inclusion in a long-term portfolio. The company believes that cryptocurrencies are more of a speculation than an investment. These reasons lie behind their decision not to offer crypto products.

The post Vanguard Makes New Statements: Crypto Is a Speculation! appeared first on Coin Engineer.