Vanguard Group, one of America’s largest investment advisors, has firmly declined to offer spot Ethereum ETFs, mirroring its earlier stance on spot Bitcoin ETFs. The decision, revealed by a Vanguard spokesperson, states that cryptocurrency products do not align with the company’s focus on traditional asset classes like equities, bonds, and cash.

This announcement arrives just a week after the U.S. Securities and Exchange Commission (SEC) approved 19b-4 filings from several issuers, though spot Ether ETFs still await S-1 registration clearance. Meanwhile, BlackRock, a major rival, has been actively pursuing Ether ETFs and recently updated its S-1 application.

Interestingly, the approval of the spot Ether ETF has become a significant issue in the U.S. elections, with ARK Invest CEO Cathie Wood highlighting its political importance. Despite market analysts’ initial doubts, there’s growing speculation that Solana ETFs might get approved, whereas memecoin ETFs are unlikely to gain traction.

Vanguard’s stance underscores its commitment to a conservative investment strategy focused on long-term stability. This decision reflects the broader hesitations within the traditional finance sector to fully embrace cryptocurrencies as mature asset classes.