Key Points
- Vanguard, typically known for opposing bitcoin, now holds over 20 million shares of MSTR, positioning itself as the largest institutional stakeholder, based on sources from Bloomberg.
- This investment results from passive indexing rather than a direct intention to invest in bitcoin.
- Vanguard has consistently denied clients access to bitcoin ETFs despite significant holdings in a bitcoin-centric company.
Vanguard, a $10 trillion asset management firm, has found itself as the primary institutional shareholder of Strategy (MSTR), a firm focused on acquiring and managing bitcoin, holding approximately 8% of the company worth an estimated $9.26 billion.
Although this participation stems from index funds and not a strategic prioritization of bitcoin, Vanguard’s position is noteworthy considering its refusal to let clients invest in bitcoin ETFs, contrasting sharply with competitors such as BlackRock, which has launched successful bitcoin ETF offerings.
Even with the entry of CEO Salim Ramji, a proponent of cryptocurrencies, the firm has maintained its resistance to offering bitcoin ETFs, emphasizing the importance of consistency in its offerings despite the potential for market changes.
