Janel Jackson, Vanguard
Seems reasonable
And as with all things digital, when a crypto file is digitally lost, it is lost. That some banks are offering this ETF stuff within the constraints of "not guaranteed," it can go "poof."
Real assets are real, tangible and with a documentation trail clear and above board. Anyone going to lose confidence in their home (most people's major asset)? Real estate and other real assets are real. Vanguard is correct on this.
Will Rogers quipped decades ago, "double your money. Fold it up and put it back in your pocket." The first rule is to NOT lose money. Almost every casino customer says some version of "I was ahead, before...." House rules.
I disagree.
I think of Bitcoin as a highly liquid asset, that can be securely and easily traded and stored, at a very low cost.
In theory, the exact number of Bitcoins is stable and widely known, which should make it an ideal hedge against inflation and currency fluctuation.
In reality, the exact number of dormant and misplaced Bitcoins is a mystery that may never be solved.
Everything Vanguard says here is exactly true. Bitcoin ETFs are very stupid.
I would say the same thing if they were creating Baptist Church ETFs. That wouldn’t make Baptist Churches bad though.
The reason Bitcoin ETFs are stupid is because Bitcoin itself IS AN ETF.