As for the reason for the change, the email included a note on Vanguard’s investment philosophy, which emphasizes a long-term and durable strategy.
Oftentimes, this is because they do not meet all of the requirements to be listed and traded on an exchange, such as the New York Stock Exchange or Nasdaq.
One reason GBTC and ETHE are commonly used as a vehicle to gain crypto exposure is that there has been no Bitcoin spot exchange-traded fund that has been approved by the Securities and Exchange Commission.
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