- Vanguard, once resistant to cryptocurrency, has changed its stance, allowing Bitcoin, Ethereum, XRP, and Solana ETFs on its platform.
- Over 50 million brokerage customers will gain access to these digital assets starting Tuesday.
- This policy change signifies a shift in traditional finance, moving digital assets into the mainstream.
- Vanguard’s previous leadership had stated that cryptocurrencies did not align with the firm’s investment philosophy, resulting in restricted access to crypto ETFs.
For years, Vanguard, one of the world’s most influential investment firms, drew a hard line when it came to cryptocurrency. While competitors such as BlackRock and Fidelity embraced the digital asset boom, Vanguard rejected crypto ETFs and distanced itself from the sector altogether. But this week, that long-standing stance has dramatically changed. In a major and widely unexpected pivot, Vanguard has confirmed it will allow trading of Bitcoin, Ethereum, XRP, and Solana ETFs across its platform. Beginning Tuesday, more than 50 million brokerage customers will gain access to some of the most in-demand cryptocurrency exchange-traded funds available in the U.S. market. This sweeping policy change represents far more than a product expansion—it underscores a shifting tide in traditional finance, where digital assets are moving from the fringe into the mainstream. It also raises questions about what prompted the turnaround, how it positions Vanguard in the competitive ETF market, and what it means for the future of investor access to crypto.
A Historic Reversal After Years of Resistance
Vanguard’s former leadership repeatedly stated that cryptocurrencies did not align with the firm’s core investment philosophy. The company’s previous CEO, Tim Buckley, dismissed Bitcoin and other digital assets as speculative instruments lacking long-term value. As a result, Vanguard not only declined to launch its own crypto products but also restricted client access to other providers’ ETFs, even as the market matured and demand soared. This meant that when the first spot Bitcoin ETFs debuted in early 2024—one of the biggest investment launches in history—Vanguard customers found themselves locked out of the action. Yet those ETFs shattered expectations:
- They pulled in $25 billion in assets during their first month
- Funds across the category grew to nearly $125 billion in less than two years
- BlackRock’s flagship iShares Bitcoin Trust surged to nearly $99.5 billion at its peak
- Even today, it remains dominant with around $70 billion AUM
While rivals captured massive inflows and global headlines, Vanguard stayed on the sidelines. Its refusal drew criticism from investors who felt they were missing out on one of the decade’s most dynamic asset classes. That ends now. Starting Tuesday, Vanguard will place crypto ETFs on equal footing with other non-core assets it allows on its platform—including gold funds and commodities. The decision marks a profound shift in tone, signaling the firm’s readiness to participate in the evolving digital asset ecosystem.
Why the Sudden Change?
Analysts widely speculate that the turning point in Vanguard’s crypto strategy is tied directly to the company’s new CEO, Salim Ramji, who took over leadership in July 2024. Ramji represents a major break from tradition. In fact:
- He is the first external hire ever appointed to lead Vanguard
- He arrived after decades at BlackRock, Vanguard’s biggest rival
- He played a pivotal role in BlackRock’s crypto initiatives
- He personally oversaw the filing and operational buildout of IBIT, one of the world’s largest crypto ETFs
- He has spoken favorably about Bitcoin, blockchain technology, and digital asset infrastructure
In contrast to Tim Buckley—who repeatedly rejected Bitcoin—Ramji brings firsthand experience in structuring, launching, and scaling institutional-grade crypto investment products. Bloomberg ETF analyst Eric Balchunas described the hire as “semi-shocking,” acknowledging that Vanguard has historically promoted from within and avoided executives with bold market profiles. Ramji’s arrival signaled a philosophical shift at the top. Within months, investors began speculating that his background made it inevitable that Vanguard would eventually change course on crypto access. Now, that prediction has materialized.
Vanguard’s decision to open its trading platform to Bitcoin, Ethereum, XRP, and Solana ETFs marks one of the most significant milestones in the intersection of traditional finance and digital assets. After years of resistance, the firm has acknowledged the undeniable growth, demand, and maturity of the crypto market. The arrival of CEO Salim Ramji, a seasoned leader deeply familiar with crypto ETF development, appears to have accelerated this transformation. By embracing change while maintaining its cautious, client-focused approach, Vanguard is setting the stage for a new era of accessibility and innovation. As millions of investors gain regulated access to digital assets through one of the world’s most trusted financial institutions, the landscape of global investing continues to evolve. One thing is clear: the bridge between traditional finance and the blockchain economy is stronger than ever.
Disclaimer: CryptopianNews shares this for learning and info only. It’s not meant to be financial or investment advice. Crypto markets change a lot and move quickly. Investing in them can be risky. You should always look into things yourself. Talk to a trained financial advisor before making any choices about investing.
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