Tim Buckley hazards Gen X, Y, Z blowback and catches Vanguard investors off-guard with last-second, anti-Fidelity policy to actively 'steer assets' away from Bitcoin

The Vanguard CEO stripped all third-party Bitcoin funds from its market, even though many young investors see them as table stakes portfolio spice.

Author Lisa Shidler January 17, 2024 at 4:56 AM

5 Comments

Tim Buckley: We just look at asset classes... and those are the asset classes we steer people towards.'

Brooke Southall and Keith Girard contributed to the editing of this article.

ETFs

Ric Edelman

Mike Alfred

Tim Buckley

Fidelity

Vanguard Group

Independent Vanguard Adviser

Jeff DeMaso

Michael Conlon

January 17, 2024 — 4:22 PM

While I'm impartial to crypto, "Vanguard is betting that the crypto collapse in March, which sank banks like Silvergate, Signature, First Republic and Citizens Bank..." Crypto's drawdown in March didn't collapse any banks. Those banks had exposure to VC-funded companies, who were burning their cash. The banks also bought billions of dollars worth of long-term treasuries yielding less than 1.5%. When the fed raises rates over 400bps, that creates a hole in your balance sheet. Not crypto.

Brooke Southall

January 17, 2024 — 5:27 PM

Michael, I agreed with you and took that out.

Brian Murphy

January 17, 2024 — 10:09 PM

Silly decision on Vanguard's part IMO. Bitcoin will be an integral part of investor portfolios within the next 3 years as "developed" governments continue to act like banana republics and continually debase their currencies. To NOT consider Bitcoin as being in investor best interest runs the risk of fiduciary neglect...and to not offer this option on a custodial exchange will be looked back on as the equivalent of the buggy whip manufacturers in the era of automobiles. FWIW, there are opportunities being created with this decision for astute investors...I'll throw myself into that mix and use it to benefit my clients.

Jon q public

January 18, 2024 — 12:00 AM

What is really funny here is that every single one of these articles fails to mention that Vanguard itself is the number two holder of microstrategy which holds 200,000 Bitcoin so that means Vanguard by proxy holds 20,000 Bitcoin their self. A classic tail of do what I say not what I do.

Truth serum

January 18, 2024 — 12:02 AM

Of course you guys aren't going to post that 🤣. It would go against your payoff. Why don't you put some real news up. Vanguard is holding 20,000 Bitcoin by proxy of mstr stock well simultaneously telling their customers they can't buy it via ETF.

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