Hashdex withdraws Ethereum ETF application! Vanguard reiterates that it will not list Ethereum spot ETFs!

Fund issuer Vanguard once again reiterated that crypto products are not suitable for balanced, long-term investment portfolios, and stated that it will not list Ethereum spot ETFs; another issuer, Hashdex, withdrew it from the SEC. Application for Ethereum spot ETF.

Vanguard reiterates that crypto assets are not suitable for "long-term investment"

Vanguard has an asset size of US$7.7 trillion and is the inventor of ETF. However, after the advent of Bitcoin ETF in January this year, Although competing brokerages such as Fidelity and Charles Schwab also offer such products, Vanguard remains determined not to list a Bitcoin ETF.

A spokesperson told Blockworks: While it is constantly evaluating its brokerage business and new products entering the market, the Ethereum spot ETF will not be listed on Vanguard. We believe that cryptocurrency products are inconsistent with our focus on asset classes such as stocks, bonds and cash, which Vanguard views as the cornerstone of a balanced, long-term investment portfolio.

Salim Ramji, who once led BlackRock’s ETF business and helped plan the Bitcoin spot ETF, will become CEO of Vanguard in July and is considered likely to change Vanguard’s stance.

But he pointed out in an interview with Barron’s in mid-May that he would try to maintain “consistency” in the types of products and services provided by Vanguard.

Hashdex withdraws Ethereum ETF proposal

It was previously reported that the SEC approved eight Ethereum spot ETFs on the 23rd, but they did not include Hashdex. According to Nasdaq’s announcement on the 28th Withdrawal notice, Hashdex has withdrawn its application on the 24th.

For other Ethereum spot ETFs, issuers still have to wait for the S-1 registration statement to become effective before trading can begin, which analysts speculate may take weeks.

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