“Executive John Ameriks emphasized Vanguard’s core view of the crypto sector has not changed, seeing the asset class as highly speculative.”, — write: www.coindesk.com
Ameriks’ words came during Bloomberg’s ETFs in Depth conference in New York on Thursday, where he said bitcoin lacks the income, compounding, and cash-flow traits Vanguard seeks when it evaluates long-term investments.
His dismissive stance comes as Vanguard just opened its platform to crypto exchange-traded funds, allowing its 50 million clients access to regulated investment vehicles from rivals like BlackRock and Fidelity.
The asset management giant’s begrudging embrace of crypto is a reversal of long-term skepticism towards the entire asset class. For years, Vanguard stood against offering cryptocurrency products to clients, reiterating that it saw digital assets as highly speculative and unaligned with its core investment philosophy.
That view, according to Ameriks, apparently hasn’t changed. As a result, Vanguard does not plan to launch its own crypto-focused ETFs. The decision is notable as bitcoin ETFs have become BlackRock’s top revenue source.
Still, after Vanguard saw crypto ETFs and funds “have been tested through periods of market volatility, performing as designed while maintaining liquidity,” the firm opened its brokerage platform to these products.
Even with that access, Vanguard will not advise clients on whether to buy or sell crypto assets or which tokens to hold, Ameriks said.
Ameriks said bitcoin could eventually show non-speculative value in certain conditions, such as high inflation or political instability, but he argued the evidence is still limited. “You’ve still got too short of a history,” he said.
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence’s Token Security API averaged 717 million monthly calls year-to-date in 2025, with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch, the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B, while derivatives volume peaked the same month at over $4B.
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The annual Nasdaq 100 rebalance saw six companies dropped and three new additions, with changes taking effect on December 22, but bitcoin treasury company Strategy hung onto its spot.
- Strategy (MSTR) will remain in the Nasdaq 100 index despite a major reshuffle, which saw several household names dropped.
- The firm’s business model, which involves stockpiling bitcoin, has drawn criticism from analysts and index providers, with MSCI considering excluding crypto treasury companies from its benchmarks.
- The Nasdaq 100 rebalance saw six companies dropped and three new additions, with changes taking effect on December 22, but Strategy’s bitcoin-heavy strategy secured its spot.
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