Posted 1/11/2024, 11:30:00 PM
Vanguard Customers Close Accounts to Protest Lack of Crypto Offerings
- Vanguard's decision to not offer bitcoin ETFs has sparked backlash and account closures from frustrated customers
- Some customers like Julian Fahrer are transferring funds to Fidelity, which offers spot bitcoin ETF trading
- Fahrer closed his 401(k) account quickly and moved it to Fidelity to support their crypto embrace
- Other crypto advocates on Twitter have expressed similar frustrations with Vanguard's stance
- Analysts say institutions that don't offer bitcoin access may suffer from user outflows as demand grows