Vanguard Group has begun allowing clients to trade spot Bitcoin ETFs on its platform, marking a significant step in its crypto offerings. However, the investment giant's overall stance on cryptocurrency remains unchanged. John Ameriks, Vanguard's global head of quantitative equity, described Bitcoin as a speculative collectible rather than a productive asset, highlighting its lack of income, compounding, and cash-flow properties. Ameriks likened Bitcoin to a "digital Labubu," emphasizing its speculative nature rather than long-term investment potential.