Vanguard, the $8 trillion US asset manager, will allow crypto-focused ETFs and mutual funds to trade on its platform from December 2, ending its long-standing refusal to support digital asset products.
The decision marks a major shift for the world’s second-largest asset manager and opens regulated crypto access to more than 50 million brokerage customers.
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Vanguard Abandons Its Anti-Crypto Policy
The firm confirmed it will support products that hold Bitcoin, Ether, XRP, Solana, and other regulated cryptocurrencies.
However, it will continue to block funds tied to meme coins and will not launch its own digital asset products.
Vanguard spent years resisting crypto exposure and repeatedly framed Bitcoin and other digital assets as speculative.
The company rejected spot Bitcoin ETFs after their January 2024 debut and even restricted customer purchases of competing funds.
For years, Vanguard executives argued that crypto lacked intrinsic value, produced no cash flows, and did not fit long-term retirement strategies.
However, persistent demand pressured the firm to rethink its stance. Bitcoin ETFs became one of the fastest-growing product categories in US fund history, with BlackRock’s IBIT alone gathering tens of billions in assets.
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This scale, combined with a steady shift in investor preferences, weakened the rationale for exclusion.
Leadership Changes Helped Clear the Path
The policy shift follows more than a year of internal debate. Vanguard’s former CEO, Tim Buckley, was widely seen as the main opponent of crypto adoption.
His departure and the appointment of Salim Ramji — a former BlackRock executive with experience in blockchain initiatives — signaled a potential pivot.
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Ramji did not push the firm toward issuing its own crypto funds but supported granting customers access to regulated products.
That move aligns crypto with Vanguard’s treatment of other non-core assets, such as gold ETFs.
Market Conditions Did Not Stop the Move
The reversal comes during a deep crypto drawdown and heavy ETF outflows since early October. Bitcoin’s market value has fallen sharply, and leveraged positions have suffered heavy losses.
Yet Vanguard said digital asset ETFs have continued to operate smoothly and maintain liquidity through volatile periods.
The firm noted that operational processes for servicing crypto products have matured since 2024. It added that its clients increasingly expect access to a wide range of asset classes through a single brokerage platform.
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What the Decision Means for Investors
Starting Tuesday, Vanguard customers can buy and sell most regulated crypto ETFs and crypto-focused mutual funds. The company will still screen products for compliance and will exclude any vehicle tied to SEC-defined memecoins.
Vanguard stressed that it has no plans to build proprietary crypto offerings.
Instead, it aims to accommodate diverse risk profiles while maintaining its conservative product philosophy.
The move is likely to strengthen digital asset legitimacy across traditional finance. It also marks a symbolic turning point for a firm long considered crypto’s most persistent holdout.
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Mohammad Shahid
https://beincrypto.com/vanguard-crypto-ban-ends-bitcoin-solana-xrp-trading-opens/
2025-12-01 23:01:00
