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    Vanguard Moves Toward Crypto Access for Millions of Investors

    8okaybaby@gmail.comBy No Comments3 Mins Read
    Vanguard Moves Toward Crypto Access for Millions of Investors

    Vanguard, the second-largest asset manager in the world, is set to allow its clients to start trading crypto exchange-traded funds and mutual funds on its platform starting Tuesday, reversing its previous stance on digital asset ETFs. 

    Spurred by persistent retail and institutional demand, Vanguard will permit third-party access to crypto ETFs and mutual funds similar to how the firm treats gold, a Vanguard spokesperson confirmed to Cointelegraph in a statement. 

    Bloomberg reported that only ETFs that meet regulatory standards will be included, such as Bitcoin (BTC), Ether (ETH), XRP (XRP) and Solana (SOL)-related ETFs.

    The investment manager told Cointelegraph it has ruled out memecoins as well as creating its own crypto ETFs and mutual funds.

    Source: Eric Balchunas 

    “We serve millions of investors who have diverse needs and risk profiles, and we aim to provide a brokerage trading platform that gives our brokerage clients the ability to invest in products they choose,” the Vanguard spokesperson said. 

    Vanguard is second only to BlackRock as an asset manager, with over $11 trillion in global assets under management as of January, according to the company’s latest report. 

    Vanguard had ruled out crypto ETFs due to volatility concerns

    Vanguard was previously against offering crypto ETFs on its platform, citing volatility and the speculative nature of the assets. 

    Its former CEO, Tim Buckley, was also strongly opposed, saying in a May 2024 video that the company doesn’t “believe it belongs, like a Bitcoin ETF belongs in a long-term portfolio of someone saving for their retirement. It’s a speculative asset.”

    Buckley announced he was stepping down as CEO in February 2024 and retired at the end of that year. 

    The company had been against offering crypto ETFs on its platform due to concerns about volatility. Source: Vanguard 

    Salim Ramji, the former head of BlackRock’s global ETF business, who took over as CEO of Vanguard, had also ruled out offering crypto-related investment products as recently as August. 

    Related: Vanguard users threaten to close accounts after firm blocks spot Bitcoin ETFs

    Change of heart could open the crypto floodgates

    Some X users speculate that Vanguard’s policy shift could open the floodgates to new investors and spike crypto prices. Crypto analyst and investor Nilesh Rohilla said he would be surprised if Bitcoin doesn’t jump  “5% in this news in the next 24 hrs.”