"Vanguard Clients Blocked from Bitcoin ETFs, Schwab and Merrill Evaluate Options"
Vanguard's decision not to offer access to bitcoin ETFs has led some users to transfer their funds to more crypto-friendly competitors like Fidelity, sparking frustration among crypto advocates. Users have expressed their discontent on social media and have begun moving their accounts to firms that support crypto trading. Vanguard reiterated its stance on not offering spot bitcoin ETFs, citing a focus on traditional asset classes, while experts warn that financial institutions that ignore bitcoin may face user outflows as investor interest in bitcoin ETFs grows.