Vanguard will allow its brokerage clients to trade cryptocurrency exchange‑traded funds and mutual funds for the first time.
The decision reverses a years‑long policy that barred access to digital‑asset products on its platform. Starting Tuesday, more than 50 million customers will be able to buy and sell funds that primarily hold Bitcoin, Ethereum, XRP and Solana, according to multiple reports citing the firm and people familiar with the decision.
Vanguard Policy Shift Opens Crypto Fund Access
The move applies to third‑party ETFs and mutual funds that invest directly in crypto assets or track spot prices, bringing Vanguard’s platform in line with competitors that have supported such products since early 2024. The company will treat crypto funds as “non‑core” holdings similar to gold or other niche exposures, evaluating each product for regulatory compliance and excluding vehicles tied to memecoins as defined by the U.S. Securities and Exchange Commission.
Executives said the change follows months of internal review and reflects both maturing market infrastructure and persistent demand from clients seeking regulated crypto exposure through familiar wrappers. Andrew Kadjeski, head of brokerage and investments, told Bloomberg that cryptocurrency ETFs and mutual funds have “performed as designed” through recent bouts of volatility and that operational processes for servicing them have improved. Vanguard reiterated that it has no plans to launch its own crypto products and will instead focus on offering access to externally managed funds.
Crypto and Fund Industry
The decision arrives after spot Bitcoin ETFs in the United States accumulated tens of billions of dollars in assets, even as the crypto market shed more than US$1 trillion in value since early October and Bitcoin retreated from highs above US$100,000 to the mid‑US$80,000s. BlackRock ’s IBIT spot Bitcoin ETF alone still manages around US$70 billion following recent outflows, underscoring the scale of institutional and retail interest that helped push Vanguard to reconsider its stance.
Industry analysts view the policy reversal as a psychological milestone for digital assets because it comes from a firm long associated with cautious, low‑cost index investing rather than speculative trading. By opening its US$11 trillion brokerage platform to crypto ETFs and mutual funds, Vanguard extends regulated digital‑asset access to a large cohort of retirement and long‑term investors and increases competitive pressure on remaining holdouts in the asset‑management sector.
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