Vanguard Executive Labels Bitcoin Speculative Amid Expanded Crypto ETF Access

Vanguard's global head of quantitative equity, John Ameriks, dismissed Bitcoin as a speculative "digital Labubu" due to its lack of cash flow and economic value, yet the firm recently expanded client access to crypto ETFs like those tracking Bitcoin and Ethereum. Bitcoin likened to collectible toys: Ameriks compared it to viral plush items, highlighting absence [...]