Vanguard Considers Allowing Crypto ETF Access for Clients
Vanguard, a $10 trillion asset management giant, is reportedly planning to allow its brokerage clients to access third-party crypto ETFs. This move marks a significant shift from its previous stance.
On September 26, crypto journalist Eleanor Terrett revealed that Vanguard is laying the groundwork for this change.The firm is responding to growing client demand and evolving regulatory conditions.A source close to the plans noted that Vanguard is being cautious, carefully considering the market dynamics as the ETF approvals in 2024.
However, this does not mean Vanguard will launch its own crypto products. The company remains focused on traditional assets like stocks, bonds, and cash.
This potential change contrasts with Vanguard’s January 2024 decision to block access to spot Bitcoin ETFs.At that time, the firm cited Bitcoin’s volatility as incompatible with its investment beliefs.
Several factors have influenced this shift. The appointment of Salim Ramji as CEO in mid-2024 was a key factor. Ramji, who previously oversaw BlackRock’s iShares Bitcoin Trust, brought valuable insights into the digital asset market.
Additionally, vanguard has quietly become the largest shareholder in Strategy, a publicly traded Bitcoin proxy. this investment suggests a nuanced approach to the digital asset ecosystem.
this move reflects a deliberate strategy under Ramji’s leadership, rather than a sudden change.It shows Vanguard’s willingness to adapt to client needs and regulatory shifts.
