Here is the start of the email I recently received from Vanguard:
Dear Vanguard Client,
Beginning April 28, 2022, Vanguard will no longer accept purchases and transfers in of most over-the-counter (OTC) securities. This change allows us to better support a targeted, enduring suite of products and services rooted in Vanguard's time-tested investment philosophy and built to help secure the long-term success of investors.
According to our records, you either currently hold at least one of these restricted securities in your portfolio or have traded them in the past.
The email goes on to mention ADR shares, which is a common way for foreign companies to list on U.S. stock exchanges. For part of 2022 and part of 2021 I held ETHE (Grayscale Ethereum Trust) in my Vanguard account, which might be what triggered the email to me. I assume those two, being some of the largest OTC stocks, would continue to be supported. But “most OTC stocks” will not.
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