Vanguard defied the crypto fever sweeping Wall Street with the first-ever U.S. spot Bitcoin BTC/USD ETFs by refusing to offer a fund of its own.

The investment giant, known for its conservative, long-term approach, declared bitcoin “too volatile” and refused to offer any of the new funds, sparking backlash and ridicule on X (formerly Twitter).

Vanguard’s customer service representative explained that Bitcoin ETFs were considered “highly speculative” and “unregulated,” which conflicts with the company’s philosophy of promoting long-term investing, according to The Block.

The platform also refrains from offering other high-risk investments like leveraged ETFs.

When asked for a comment, a…

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