BlackRock’s IBIT Unavailable for Purchase at Vanguard
Clients attempting to buy shares of BlackRock’s IBIT were met with a message stating that the securities were unavailable for purchase at Vanguard. This was due to various factors such as regulatory restrictions, corporate actions, and trading limitations. However, other brokerages like Charles Schwab and Fidelity allowed users to purchase spot bitcoin ETFs. On the Fidelity platform, users were reminded of the high risk associated with the investment.
About Authors
Nathan Crooks is the U.S managing editor at The Block, based in Miami. He previously worked at Bloomberg News for 12 years, covering South Florida and serving in various editorial roles. Sarah is a reporter at The Block, focusing on policy, regulation, and legal matters. She has experience reporting on crypto and has written for finance-related publications. Sarah is based in Washington D.C. and enjoys coffee.
Hot Take: BlackRock’s IBIT Exclusion Raises Questions
The exclusion of BlackRock’s IBIT from Vanguard raises questions about the availability of crypto-related products on different brokerage platforms. While some platforms allow users to invest in bitcoin ETFs, others have restrictions in place due to regulatory factors. This discrepancy highlights the challenges faced by investors who want exposure to cryptocurrencies but are limited by their chosen brokerage. It also emphasizes the need for consistent regulations and clearer guidelines in the crypto space to ensure equal access and opportunities for all investors.
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