Vanguard claims it will not offer BTC ETF on its brokerage platform, facing resistance from the crypto community

According to The Wall Street Journal, Vanguard claims that it will not offer new physically-backed Bitcoin ETFs on its brokerage platform, citing inconsistency with its traditional products. Vanguard states that it will not be possible to purchase physically-backed Bitcoin ETFs on the Vanguard platform. We also have no plans to offer a Vanguard Bitcoin ETF or other cryptocurrency-related products. Last year, Vanguard did not apply for a physically-backed Bitcoin ETF among the 14 issuers. The decision not to support physically-backed Bitcoin ETFs has led some investors to reconsider their positions, with reports suggesting that clients are moving funds to other platforms. Vanguard's actions have been met with dissatisfaction and resistance from the crypto community, as Coinbase Senior Engineering Manager Yuga Cohler stated his intention to transfer his Roth 401(k) savings from Vanguard to Fidelity, criticizing Vanguard's "paternalistic blockade" of Bitcoin ETFs.