Vanguard Considers Allowing Crypto ETF Access for Clients
Vanguard, a $10 trillion asset manager, is reportedly planning too allow its brokerage clients access to third-party crypto ETFs. This move marks a significant shift in the firm’s stance on digital assets.
Previously, Vanguard had banned access to crypto ETFs in 2024. However, the company is now responding to growing client demand and evolving regulatory changes. A source close to the matter says Vanguard is being cautious and methodical in its approach. The firm is not planning to launch its own crypto products but is facilitating access to select third-party options.
This change comes after the appointment of CEO Salim Ramji, who has a background in digital assets. Ramji’s influence, along with the increasing popularity of crypto, has led to this reconsideration. The firm’s decision aligns with the changing market dynamics as the approval of spot Bitcoin ETFs. The move does not include launching its own crypto products.
Despite its public skepticism,Vanguard has quietly become a major shareholder in Strategy,a company seen as a Bitcoin proxy. This investment suggests a more nuanced approach to digital assets. The firm’s decision reflects a strategic pivot rather than a radical shift.
For more details, check out the Bloomberg report on the developments.
