In light of the US Securities and Exchange Commission's (SEC) recent approval of the first wave of spot Bitcoin ETFs, asset management giant Vanguard has sparked backlash from the crypto community by blocking its clients' access to these products.

- As a result, many users are moving their investment portfolios to other platforms such as Fidelity.

- Experts say Vanguard's decision to abandon its core principle of providing clients with an effective means to exercise their choices is a "disastrous" marketing move.