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💲💲🚩Vanguard Group will allow bitcoin and crypto-linked exchange-traded funds and mutual funds to trade on its platform, reversing a policy📉🚩💲💲 Vanguard Group will allow bitcoin and crypto-linked exchange-traded funds and mutual funds to trade on its platform, reversing a policy that for years barred retail clients from accessing digital-asset products through the firm. Starting Tuesday, Vanguard brokerage customers will be able to trade ETFs and mutual funds that primarily hold select cryptocurrencies, including Bitcoin and other crypto, according to Bloomberg reporting. The move marks a shift for the world’s second-largest asset manager, which has long argued that digital assets were too volatile and speculative for long-term portfolios. The decision follows growing demand from both retail and institutional investors and comes after the approval of spot Bitcoin ETFs in January 2024 ushered billions of dollars into regulated crypto products. BlackRock’s iShares Bitcoin Trust, the largest of those funds, peaked near $100 billion in assets earlier this fall and still manages about $70 billion despite recent price declines. A Bitcoin ETF lets investors gain exposure to Bitcoin without actually buying or storing the cryptocurrency themselves. Instead, the fund holds Bitcoin (or Bitcoin-related contracts) while investors simply buy shares on a stock exchange, with the share price moving alongside Bitcoin’s market value. It’s a convenient and easy way to get invested in Bitcoin.
🚩 China's Crypto market Updates 🚩 BEIJING, Nov 29 (Reuters) - China's central bank reaffirmed its tough stance on virtual currencies on Saturday, warning of a resurgence in speculation and vowing to crack down on illegal activities involving stablecoins.
The People's Bank of China (PBOC) said at a coordinating meeting on virtual currency regulation on Friday that crypto speculation has recently increased due to various factors, presenting new challenges for risk control, according to a statement released by the central bank. $BTC $ETH $BNB