Vanguard, the $ 10 billion asset administrator known in cryptographic circles to block customer access to Bitcoin ETFs, has become the largest institutional shareholder of strategy strategy (Mstr)A company whose business model is based on buying and maintaining Bitcoin.
According to Bloomberg, Vanguard now has more than 20 million Mstr shares, more than 8% of the company, surpassing Capital Group as the main institutional holder. Participation is worth approximately $ 9,26 billion.
“God has a sense of humor,” said Bloomberg analyst Eric Balchunas, who has also written the Bolge effect. “Vanguard chose this life. When you have an index fund, you have to own all actions, for better or worse, and that includes actions that you may not like or approve personally.”
“Institutional Dementia,” said a diplomat Matthew Sigel, head of digital asset research at Vaneck. “Indexar at $ 9 billion of what mocks openly is not a strategy,” he wrote in an X publication.
Vanguard exposure comes from passively administered index funds, not a commitment deliberate for Bitcoin’s strategy or strategy. MSTR is included in several of the Vanguard funds, such as the total index fund in the stock market (Vitsx)The Extended Vanguard market index fund (VIEIX) And the avant -garde Growth ETF (Vug).
These funds reflect the composition of broad stock rates and automatically include companies such as the strategy when they meet certain criteria.
The strategy, led by executive president Michael Saylor, has become a Bitcoin Holding vehicle, acquiring more than 600,000 BTC worth approximately $ 72 billion since 2020. The company’s shares have become a proxy for Bitcoin exposure, especially in the years prior to Bitcoin Spot ETF approved by the United States.
Even so, Vanguard is still opposed to the asset class. The firm has refused to offer customers access to Bitcoin ETFs, even when competitors like Blackrock launched the successful Bitcoin Trust Trust (Ibit)which became the ETF faster to administer more than $ 80 billion in assets.
Even the arrival of the supposedly CEO Salim Ramji cryptographic in May last year has not changed the position of the company. “I think it is important that companies have consistency in terms of what they represent and the products and services they offer,” Ramji said after their appointment.
