Vanguard Group, one of the world’s largest asset managers with about $11 trillion in assets under management, will allow customers to trade cryptocurrency ETFs and mutual funds on its brokerage platform starting Tuesday, Bloomberg reported.
“Cryptocurrency ETFs and mutual funds have been tested through periods of market volatility, performing as designed while maintaining liquidity,” Andrew Kadjeski, head of brokerage and investments at Vanguard Group, told Bloomberg. “The management processes that serve such funds have matured; investor preferences are constantly changing.”
According to the report, Vanguard said it would support most cryptocurrency ETFs and mutual funds that meet regulatory standards, similar to how it treats gold and other niche asset classes. Funds related to memecoins or not backed by the SEC will still be banned.
The company reportedly added that it currently has no plans to launch its own encryption product.
The move gives Vanguard’s 50 million clients access to regulated cryptocurrency funds, such as those from rival asset manager BlackRock. Cryptocurrency ETFs have become a key gateway for U.S. investors to acquire digital assets. Spot Bitcoin Since its launch in January 2024, assets under management of ETFs have rapidly increased to nearly $120 billion, while Ethereum According to SoSoValue data, the value of cars has increased to nearly $20 billion.
Read More: Bitcoin ETF Now BlackRock’s Biggest Source of Revenue, Executive Says
