According to CoinDesk, Vanguard, one of the largest asset managers globally, is preventing customers from purchasing the recently approved bitcoin ETFs. Attempts to invest in BlackRock's iShares Bitcoin Trust (IBIT) or Grayscale Bitcoin Trust (GBTC) through a Vanguard retirement brokerage account resulted in a 'trade cannot be completed' warning. The message stated that buy orders are not currently accepted for this security due to various factors, including regulatory restrictions, corporate actions, or trading and settlement limitations.
A Vanguard spokesperson could not be reached for comment. However, The Block reported that Vanguard has no plans to allow the purchase of bitcoin ETFs, citing their high volatility. This stance contrasts with the company's largest competitors, such as BlackRock, Fidelity, and Invesco, which have created bitcoin ETFs that began trading on Thursday after receiving permission from the U.S. Securities and Exchange Commission on Wednesday. Additionally, Charles Schwab, another brokerage, confirmed on Thursday that it is allowing customers to trade bitcoin ETFs.