Vanguard Exec Calls Bitcoin a 'Digital Labubu' Despite Offering Spot Bitcoin ETF Access

In a surprising contrast, a Vanguard executive has publicly compared Bitcoin to a 'Digital Labubu,' referencing the popular collectible toy, even as the investment giant allows clients to trade spot Bitcoin ETFs from other issuers. The executive's skeptical comments highlight Vanguard's ongoing cautious stance towards cryptocurrency as an asset class. While investors can now access Bitcoin ETFs like those from BlackRock and Fidelity through their Vanguard brokerage accounts, the firm itself continues to refrain from offering its own crypto product. This move provides indirect Bitcoin exposure to Vanguard's client base while the company maintains its critical public viewpoint on digital assets like BTC.