World’s Second Largest Asset Manager Vanguard Opens Its Platform to Bitcoin and Crypto ETFs: Bloomberg

Vanguard Group, the world's second-largest asset manager, has reversed its long-standing policy and will now permit its brokerage customers to trade Bitcoin and crypto-linked exchange-traded funds (ETFs) and mutual funds starting Tuesday. This move follows growing demand from investors and comes after the approval of spot Bitcoin ETFs in January 2024, which saw billions flow into regulated crypto products. Vanguard had previously argued that digital assets were too volatile for long-term portfolios. Andrew Kadjeski, Vanguard’s head of brokerage and investments, stated that crypto funds have proven their performance through volatility and that back-office processes have matured. This policy shift follows the appointment of former BlackRock executive Salim Ramji as Vanguard's CEO over a year prior. While Vanguard will support most compliant crypto funds, it confirmed it will not launch its own crypto products and will exclude funds linked to meme coins. The decision opens access to over 50 million brokerage customers overseeing more than $11 trillion in assets, causing Bitcoin's price to jump on the news.

(Source：Bitcoin Magazine)