Vanguard’s 50M+ clients will soon have access to crypto ETFs
Vanguard will soon allow its over 50 million clients to trade third-party crypto ETFs and mutual funds, reversing its prior opposition.Summary
Vanguard, the world's second-largest asset manager, is reversing its previous stance and will soon permit its more than 50 million clients to trade third-party cryptocurrency exchange-traded funds (ETFs) and mutual funds on its platform, starting Tuesday. This move, driven by persistent retail and institutional demand, will allow access to regulated products like Bitcoin, Ether, and Solana-related ETFs, similar to how the firm handles gold ETFs. Vanguard confirmed it will not create its own crypto products or allow memecoins. Previously, the firm, including its former CEO Tim Buckley, opposed crypto ETFs due to volatility concerns. The policy shift, occurring under new CEO Salim Ramji, is speculated by some analysts to potentially boost crypto prices as traditional finance fully embraces digital assets.
(Source：Cointelegraph)