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When the word came down from the U.S. Securities and Exchange Commission that investment companies could offer Bitcoin ETFs, Vanguard shrugged off the opportunity — but didn’t make an effort to let its investors know, leading to high volumes of online criticism and some investors closing their accounts. Neville and Shel dig into the communication failure in this short midweek episode.
Links from this episode:
- Jody Lowe on LinkedIn asks communicators for their views of Vanguard’s handling of its Bitcoin spot ETF decision
- Vanguard’s decision to shun bitcoin ETFs triggers backlash — with some customers moving to crypto-friendly competitors like Fidelity
- Vanguard Shuns Bitcoin ETFs, Faces Social Media Backlash From Crypto Enthusiasts: ‘Have Fun Staying Poor’
- One place you won’t find a bitcoin ETF: Jack Bogle’s Vanguard
- Cathie Wood Criticizes Vanguard’s Stance on Bitcoin ETFs
- Vanguard Blocks Spot Bitcoin ETF Trading, Prompting Some Investors to Close Accounts
- US bitcoin ETFs see $4.6B in volume in first day of trading
- What are spot bitcoin ETFs, and what’s the story behind the SEC’s approval of the story behind the SEC’s approval of these products? (Perplexity)
- Bitcoin price falls 15% following launch of ETFs
The next monthly, long-form episode of FIR will drop on Monday, January 29.
We host a Communicators Zoom Chat most Thursdays at 1 p.m. ET. For credentials needed to participate, contact Shel or Neville directly, request the credentials in our Facebook group, or email fircomments@gmail.com.
Special thanks to Jay Moonah for the opening and closing music.
You can find the stories from which Shel’s FIR content is selected at Shel’s Link Blog. Shel has started a metaverse-focused Flipboard magazine. You can catch up with both co-hosts on Neville’s blog and Shel’s blog. Neville’s Asides blog is also available.
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About Shel Holtz
Bitcoin ETF is just the beginning! This will be followed by Ethereum ETF + other projects joining in = these developments will have an immense global effect on the total crypto market cap and the overall adoption rates once the Wall Street has opened the doors! We had seen a temporary drop of $BTC recently that followed the ETF news. This was a deliberate manipulation of the market by whales. This was a whale BTC market move when the whales sold below $50K BTC and bought again the BTC below $40K taking in the profits and recovering portfolios. They could not push the BTC bottom further below, because strong buy demand was there and Wall Street has joined the game.
If no major economic crisis happens (all else equal) in 2024 (USDT Tether liquidity issues or possible bankruptcy – low probability at the moment) we should see a mega bull run starting late 2024/early 2025 lasting to late 2025/early 2026. This assumes that interest rate hikes will stop and we will see the rates to start decreasing throughout 2025. There is also high probability that there will be additional increase (money printing) in US Dollar volume / money supply at the end of 2024 that will provide an additional firepower effect the next bull run in combination with low interest rates and cheap borrowing. This will be the mega bull ran with potentially push the total crypto market cap over $7-$10 trillion threshold and even surpassing gold at $12 trillion market cap. The 2025 bull run will be the mega bull run of our times!