At Vanguard, our mission is to prioritize the long-term financial success of our investors. While we recognize the technological innovations of blockchain, our stance on Bitcoin and Bitcoin ETFs remains cautious.

📉 Current Views:

Speculative Nature: Bitcoin and its associated ETFs are considered highly speculative and volatile. This does not align with our investment principles focused on stability and predictable returns.

Long-term Strategy: We focus on asset classes such as equities, bonds, and cash, which provide reliable cash flows and valuations. These are the building blocks of a well-balanced, long-term portfolio.

📊 Future Outlook:

We continue to monitor the evolving landscape of digital assets and blockchain applications. However, our commitment remains to provide investment products that meet the long-term needs of our clients.