An update from Vanguard is lifting the market.
Shiba Inu (SHIB 3.20%) is up 7.9% in the last 24 hours as of 2:00 p.m. ET on Monday. The jump comes as the S&P 500 is up 0.4% and the Nasdaq Composite is up 0.2%.
The “meme coin” is far outpacing Bitcoin‘s modest rise as the crypto market gains for the second day, following a key policy reversal from one of the world’s largest asset managers. Shiba Inu may also be getting a bump from a significant increase in token burning.
Today’s Change
(-3.20%) $-0.00
Current Price
$0.00
Key Data Points
Market Cap
$5B
Day’s Range
$0.00 – $0.00
52wk Range
$0.00 – $0.00
Volume
121M
Avg Vol
0
Gross Margin
0.00%
Dividend Yield
N/A
Vanguard reverses its crypto fund policy
Earlier this week, Vanguard said it would allow investors to trade crypto mutual funds and ETFs on its brokerage platform, reversing a long-standing prohibition. With $11 trillion in assets managed through its brokerage, the move opens the door to a massive amount of capital, though how much actually flows into crypto-related funds is likely to be a tiny fraction of that eye-watering sum.
Image source: Getty Images.
Shiba Inu is extremely risky
Shiba Inu is built on a meme; its value is entirely based on speculation and hype. That makes it extremely sensitive to general sentiment and is liable to drop like a rock at any moment. I would not own it.
Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.
