$11T Asset Management Giant Vanguard to Allow Client Access to Crypto ETFs
Vanguard, an $11 trillion asset manager, will now let its 50 million clients trade regulated cryptocurrency ETFs and mutual funds.Summary
Vanguard, one of the world's largest asset managers with approximately $11 trillion in assets, is making a significant shift by allowing its 50 million clients to trade cryptocurrency ETFs and mutual funds on its brokerage platform starting Tuesday. This move reverses the firm's previous anti-crypto stance. According to Andrew Kadjeski, Vanguard's head of brokerage and investments, the decision was based on cryptocurrency funds proving resilient through market volatility and the maturation of administrative servicing processes, alongside evolving investor preferences. Vanguard will support most crypto ETFs and mutual funds that meet regulatory standards, similar to its treatment of niche assets like gold, but funds tied to memecoins or those unsupported by the SEC will remain barred. The firm currently has no plans to launch its own crypto products, but this change grants its clients access to regulated digital asset exposure, mirroring offerings from rivals like BlackRock.
(Source：CoinDesk)