Here are Franklin Templeton and Vanguard’s views on Bitcoin ETFs

Franklin Templeton has fully embraced crypto, boldly updating its logo to feature laser eyes. This bold move is in stark contrast to Vanguard's conservative approach of denying access to Bitcoin ETFs.

The division between traditional financial institutions highlights the ongoing debate about the role and potential of cryptocurrencies.

Franklin Templeton goes to Laser Eyes

76-year-old asset manager Franklin Templeton has embraced the cryptocurrency culture. In fact, the company updated the X profile picture to include laser eyes on the logo featuring Ben Franklin. This is seen as a clear criticism of the crypto community and its ambitions.

“Franklin Templeton is one of the largest asset managers in the world. Their new profile picture has laser eyes,” said crypto investor Scott Meeker.

Adding laser eyes is more than just a cosmetic enhancement. This shows Franklin Templeton's support for the crypto market's shared hope for a parabolic Bitcoin price rally.

This sign of solidarity comes at a critical time as the newly approved Bitcoin ETF providers seek to gain a share of investors' capital. Hours after U.S. regulators greenlit its innovative products, Franklin Templeton, with a whopping $1.5 trillion in assets under management, made a strategic shift.

The laser eyes on Ben Franklin are a subtle hint at the fierce competition ahead in the cryptocurrency ETF market.

Vanguard block access to Bitcoin ETF

However, this story of corporate crypto embrace is not uniform across the financial sector. Vanguard, known for its conservative stance, took a different approach. Reports indicate that Vanguard is actively banning clients from publicly listed SEC-approved Bitcoin ETFs.

Customer response is quick and decisive. Former Vanguard customer Vanessa Harris shares her experience.

“I completely transferred my retirement account from Vanguard to Fidelity because Vanguard does not support Bitcoin ETFs and appears to be capping the price of Bitcoin by only allowing people to buy and not sell GBTC,” Harris said.

Vanguard's reluctance to offer a position on Bitcoin ETFs stems from its view on the high volatility of cryptocurrencies. On the other hand, with other brokers such as E*TRADE, Charles Schwab and Fidelity, users can actively trade spot Bitcoin ETFs.

A spokesperson for Vanguard confirmed its firm stance on cryptocurrencies and Bitcoin.

“We also have no plans to offer Vanguard Bitcoin ETFs or other crypto-related products – our view is long-term because the high volatility of cryptocurrencies is contrary to our goal of helping investors generate positive returns over the long term,” the spokesperson confirmed. .

This difference in corporate attitudes toward Bitcoin ETFs highlights a broader debate about the role and potential of cryptocurrencies in the financial sector.

Recently, the CEO of JP Morgan, Jamie Dimon, a constant critic of Bitcoin, once expressed his negative view of the management digital currency. He confirmed his belief that it is used as a method for criminal activities and tax evasion.