Vanguard executive calls Bitcoin `Digital Labubu` amid rising skepticism
A senior Vanguard Group executive has intensified skepticism toward Bitcoin by comparing the so-called “digital gold” to Labubu, a viral collectible plush toy.
Speaking at the Bloomberg ETFs in Depth conference in New York, John Ameriks, Head of Vanguard’s Global Equity Quantitative Investments Group, said Bitcoin lacks the returns, compounding, and cash flow that the company seeks in long-term investments, calling it a “digital Labubu.”
According to Ameriks, in the absence of evidence that the technology provides sustainable economic value, it is difficult to view Bitcoin as anything more than speculation.
His comments came just two weeks after Vanguard opened its trading platform to spot Bitcoin ETFs, allowing clients to buy and sell individual crypto-related products.
Volatility beyond tolerance
However, Ameriks said that decision was made only after tracking the trading performance of U.S. spot Bitcoin ETFs launched in January 2024.
“Vanguard does not plan to launch its own crypto-focused ETFs, and it will not make recommendations to buy or sell digital assets,” Ameriks stated.
He added that a clearer investment strategy would require stable price behavior under stressed conditions—something Bitcoin has been unable to provide during its relatively short history.
Still, Ameriks acknowledged limited scenarios where Bitcoin may show non-speculative value, including periods of high inflation or political instability. He emphasized that the company continues to view blockchain technology positively for its potential to improve market structure.
As we wrote, Vanguard opens trading for crypto-backed ETFs and funds
Latest Bitcoin News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
