Vanguard, one of the world’s largest asset managers with approximately $11 trillion in assets under management, will begin allowing 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 designed and maintaining liquidity,” Andrew Kadjeski, head of brokerage and investments at Vanguard, told Bloomberg. “The administrative processes to service these types of funds have matured and investor preferences continue to evolve.”
Vanguard said it will 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 story. Funds linked to memecoins or not supported by the SEC will remain prohibited.
The company added that it has no current 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 from 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 rose to nearly $20 billion, SoSoValue data shows.
Read more: Bitcoin ETFs are now BlackRock’s main source of income, says executive
