Vanguard, the $ 10 trillion asset manager known in crypto circles for blocking client access to bitcoin ETFs, appeared as the largest institutional approach shareholder (Mstr)A company whose business model was built around the purchase and handling of Bitcoin.
According to Bloomberg, Vanguard now owns more than 20 million MSTR shares – more than 8% of the company – which exceeds the capital group as the leading institutional holder. The stake costs about $ 9.26 billion.
“God has a sense of humor,” said Bloomberg’s analyst Eric Balchunas, who also wrote the bolge effect. “Vanguard has chosen this life. When you have an index fund, you need to hold all the stocks, for better or worse, and including stocks you may not like or approve in person.”
“Institutional dementia,” said the relatively less diplomatic Matthew Sigel, head of digital asset research at Vaneck. “Indexing at $ 9 billion of what you open cynicism is not an approach,” he wrote in a Post In X.
Vanguard’s exposure is derived from managed index funds, not a deliberate stakes in the Bitcoin approach or approach. MSTR is included in some Vanguard funds, such as the total stock market index fund (Vitsx)The Vanguard Extended Market Index Fund (Vieix) and the vanguard growth etf (Vug).
These funds reflect the composition of extensive stock indices and automatically includes companies such as approach when they achieve certain standards.
The strategy, led by executive chairman Michael Saylor, returned himself to a vehicle holding Bitcoin, who had gained more than 600,000 BTCs worth about $ 72 billion since 2020. Company shares have been a proxy for exposure to Bitcoin, especially in the years before the approved US Bitcoin ETF area.
However, Vanguard remains opposed to the owner class. The firm refused to offer clients accessing Bitcoin ETFs, even though competitors such as Blackrock launched wild successful ishares bitcoin trust (Go)that has become the fastest ETF to manage more than $ 80 billion in possessions.
Although the arrival of the alleged crypto-friendly CEO Salim Ramji in May last year did not move the firm’s position. “I think it’s important for companies to have the same in terms of their stance and the products and services they offer,” Ramji said after his appointment.
