Mars Finance news, on December 13, despite recent adjustments in national policy, an executive from the asset management giant Vanguard this week likened Bitcoin to a speculative toy, highlighting the ongoing skepticism of traditional financial institutions towards digital assets. Meanwhile, the company has begun allowing clients to trade crypto-related ETFs. According to Bloomberg, Vanguard's global quantitative equities head John Ameriks stated that Bitcoin lacks the cash flow and compounding characteristics the company seeks in long-term investments. At Bloomberg's ETFs in Depth conference held in New York, he described cryptocurrencies as 'digital Labubu'—'To me, Bitcoin is at best a digital Labubu,' Ameriks pointed out, noting the lack of clear evidence that the underlying blockchain technology can generate lasting economic value. Managing approximately $12 trillion in assets, Vanguard has now allowed clients to buy and sell funds holding Bitcoin, Ethereum, XRP, and Solana, placing cryptocurrencies alongside other assets like gold. Ameriks stated that the decision to open trading access was based on the established track record of the spot Bitcoin ETF launching in January 2024. 'If clients wish, we allow them to hold and purchase these ETFs on the platform, but this must be their own judgment,' he said, 'We do not provide advice on trading decisions or what specific tokens to hold.' He acknowledged that Bitcoin may ultimately demonstrate value in certain scenarios (such as during high inflation or political turmoil), but emphasized that the asset has a short history and cannot yet support a clear investment logic. 'We can only discuss its investment logic more rationally if we can observe reliable price movements in these scenarios,' he stated, 'but at the moment, such evidence does not exist.'

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