Malvern-based Vanguard, one of the two dominant players in the nation’s ETF market, has no plans to establish a bitcoin ETF of its own or to use its trading platform to offer such funds from other issuers, writes Jesse Pound for CNBC.

“While we continuously evaluate our brokerage offer and evaluate new product entries to the market, spot Bitcoin ETFs will not be available for purchase on the Vanguard platform,” said a Vanguard spokeswoman in a statement. “We also have no plans to offer Vanguard Bitcoin ETFs or other crypto-related products.”

According to the company, such products do not align with its offer that focuses on asset classes like equities, bonds, and cash, which are considered by Vanguard to be “the building blocks of a well-balanced, long-term investment portfolio.”

Vanguard’s chief rival BlackRock launched its iShares Bitcoin Trust earlier this month.

Vanguard has earned a reputation among investors for being both a low-cost and a more conservative investment manager. Under Jack Bogle, its founder, Vanguard was instrumental in driving down the costs for investors since the 1970s. Vanguard achieved that by introducing passive stock index funds that often outperformed highly paid active managers.

Read more about Vanguard staying clear of the ETF market at CNBC.

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