Bitcoin and XRP have experienced significant price declines since Vanguard opened its brokerage platform to spot crypto ETFs on December 2. Bitcoin has fallen approximately 30% from its peak of $92,330 to $64,900, while XRP has dropped 37% from $2.18 to $1.36. Despite initial optimism, the market has not responded favorably, with other major cryptocurrencies like Ethereum and Solana also seeing similar declines.
The downturn is attributed to broader macroeconomic pressures rather than Vanguard's decision to offer crypto ETFs. The move by the world's second-largest asset manager was seen as a milestone for mainstream adoption, providing clients with a straightforward way to invest in digital assets. However, the timing coincided with a broader market pullback, highlighting the unpredictable nature of crypto markets. Despite the current price drops, the expansion of crypto access through major brokerages is viewed as a positive step for the integration of digital assets into traditional investment portfolios.
Bitcoin and XRP Plunge After Vanguard Enables Crypto ETF Access
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