Vanguard, a major player in the investment management industry with over $7 trillion in assets, has taken a surprising stance by blocking customer access to Spot Bitcoin Exchange-Traded Funds (ETFs), according to multiple reports. The move comes as a notable deviation from the growing trend of institutional interest and adoption of Bitcoin-related financial products.

Vanguard says it has no plans to offer spot Bitcoin ETFs or crypto related products, reported The Block. The firm citied that the high volatility nature of Bitcoin goes against the company’s goal of helping investors get ‘real returns’ over the long term.

Reports from clients are stating that while they can not purchase the…

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