John Ameriks of Vanguard likened Bitcoin to a collectible toy, calling it a “digital Labubu.” Despite this, he acknowledges possible future value beyond speculation, especially in scenarios of fiat currency inflation or political instability. Vanguard now allows clients to trade cryptocurrency funds, becoming the last major asset management firm to do so.

Vanguard’s shift allows over 50 million clients access to crypto markets, signaling a significant move in bridging traditional finance with digital assets. This policy change could inject fresh capital into crypto networks through ETFs, potentially impacting cryptocurrency prices positively. Vanguard’s clients now have the option to hold crypto investment vehicles discreetly.

Read more at Cointelegraph: Bitcoin Has No Value Beyond Financial Speculation