Vanguard, Citi, Merrill Lynch, Edward Jones, UBS according to Steven Lubka. Probably just a compliance thing with the quick listing after approval. Maybe not vanguard, apparently they don't consider Bitcoin a fit in their investing philosophy. Feel free to degen trade 3x levered etfs though.
Isn't that the same thing they did with gamestop. Feel free to sell but no buying for you. It's a great advertisement for Bitcoin to be honest. Thanks Vanguard.
Based on my conversations with friends that are wealthy about bitcoin I have my doubts that we are going to see the millionaire class's investment advisors telling them to get into these ETFs. This is not a popular opinion but I think it is going to take some time for tradfi bros to see the value of bitcoin. I think a lot of money is gonna flow into these ETFs but I'm not sure it is gonna happen as quickly as many seem to believe.
The SEC approving these is a signal to advisors that they need to get up to speed on bitcoin. Now, I have my doubts about the advice they will give but the ETFs are a signal to tradfi to pay attention to BTC.
Now I have heard tradfi folks say they know billionaires that are gonna ape in but I don't think the low level rich are gonna jump in right away.
When my friends with wealth talk about bitcoin they always say their advisors say it is very risky(volatile). I always agree. It is very volatile. I advise them to do some research and let me know if they have questions or wanna learn more. I don't think people should invest their life force in things they don't understand. I also add that I am a strong believer in BTC long term but do your own research.
van·guard
[ˈvanɡɑːd]
NOUN
vanguard (noun) · vanguards (plural noun)
a group of people leading the way in new developments or ideas:
"the experimental spirit of the modernist vanguard"
a position at the forefront of new developments or ideas:
"the prototype was in the vanguard of technical development"
For fiat investments Vanguard is the best place by far. They're the pioneers of aligning incentives with investors and eschewing high fees and profits.
That being said they are ultra conservative and will never be the place for the hot new thing by design. For boring old index funds there is no place better. For bitcoin you should self custody anyway, so to me this is a non event.