Vanguard, one of the world’s largest asset managers with approximately $11 trillion in assets under management, will begin allowing its clients to trade cryptocurrency ETFs and mutual funds on its brokerage platform starting Tuesday, according to Bloomberg.
“Cryptocurrency ETFs and mutual funds have been tested during periods of market volatility, performing as expected while maintaining liquidity,” Andrew Kadjeski, Vanguard’s head of brokerage and investments, told Bloomberg. “The administrative processes required to service these types of funds have matured and investor preferences continue to evolve.”
Vanguard said it would support most crypto ETFs and mutual funds that meet regulatory standards, similar to how it treats gold and other niche asset classes, according to the article. Funds linked to memecoins or not supported by the SEC will remain prohibited.
The company added that it currently has no plans to launch its own crypto products, according to the report.
The move gives Vanguard’s 50 million clients access to regulated crypto funds like those of rival asset manager BlackRock. Crypto ETFs have become a key gateway for US investors to gain exposure to digital assets. Spot bitcoin ETFs have mushroomed to nearly $120 billion in assets under management since their debut in January 2024, while ether vehicles have reached nearly $20 billion, according to data from SoSoValue.
Read more: Bitcoin ETFs are now BlackRock’s main source of revenue, according to Exec
