Key takeaways
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Vanguard’s decision to open access to spot crypto ETFs marks a major shift from its previous anti-crypto stance and gives more than 50 million customers a regulated path to gain exposure to digital assets.
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The company will allow trading in approved third-party ETFs linked to BTC, ETH, XRP and SOL while avoiding memecoins or unregulated tokens and choosing not to launch its own crypto products.
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The move lends significant institutional legitimacy to crypto and shows that even traditionally conservative asset managers cannot ignore the sustained demand for regulated exposure to digital assets.
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Vanguard’s adoption of crypto reflects a broader institutional trend. Major financial institutions such as BlackRock, Fidelity and Bank of America have already integrated crypto products as part of diversified investment offerings.
In a major push for digital assets, Vanguard is set to grant its broad customer base access to spot crypto exchange-traded funds (ETFs). The move gives more than 50 million investors a convenient on-ramp and adds institutional legitimacy to cryptocurrencies. Vanguard’s decision to support regulated crypto products indicates how far the asset class has matured.
This change could contribute to broader interest in crypto and influence how some investors evaluate their portfolio options. As one of the most conservative companies in traditional finance expands access to digital assets, the broader market may see crypto as a more accepted and stable part of diversified investment strategies.
This article discusses the crypto ETFs now available through Vanguard, why this change in Vanguard policy matters, how it reflects a broader institutional trend, and how this move could influence global crypto markets.
What exactly is Vanguard changing?
Vanguard has changed its policy of staying away from crypto ETFs. The asset manager will now give its clients access to third-party crypto ETFs and mutual funds that invest in certain underlying cryptocurrencies. These include Bitcoin (BTC), Ether (ETH), XRP (XRP), and Solana (SOL). The products are traded on regulated crypto exchanges, much like gold-backed ETFs.
Beginning in early December 2025, Vanguard will refrain from issuing its own crypto ETFs or mutual funds. The company’s approach is consistent with its policy of providing but not creating gold ETFs. It will not offer products related to memecoins or unregulated tokens, which it continues to view as too speculative for its platform.
In a customer review, Vanguard noted that the ETFs chosen endured market volatility, performed as expected, and preserved liquidity. Vanguard’s educational resources continue to describe cryptocurrencies as a highly volatile asset class and emphasize that investing involves risk.
According to a Vanguard spokesperson, the company serves millions of investors with diverse needs and risk profiles and aims to provide a brokerage platform that gives clients the flexibility to invest in the products of their choice.
Eric Balchunas, senior ETF analyst at Bloomberg, cited Vanguard on how ETFs performed as expected during several periods of volatility.
Why Vanguard’s policy change matters
This policy change from Vanguard is likely to impact the core strategies and long-term returns of millions of investors. This change could also redefine the accessibility and structure of popular diversified portfolios.
The breadth of Vanguard’s customer base
As of October 31, 2025, Vanguard offered 224 funds in the United States, including variable annuity portfolios, and 228 funds in international markets.
Offering crypto ETFs on such an extensive platform will have two key consequences:
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This expands the number of investors who can gain exposure to cryptocurrency prices without leaving conventional brokerage services.
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This indicates that regulated crypto offerings are becoming difficult for large financial companies to ignore.
Vanguard’s action appears to be a cautious first step rather than full adoption. The company notes that availability through Vanguard could lead to increased demand for BTC and other important assets.
This does not mean that more than 50 million individuals will immediately buy crypto ETFs. Access does not equal investment. This, however, lowers the hurdles for interested investors who want regulated access to crypto ETFs.
Did you know? Crypto ETFs allow investors to gain exposure to digital asset prices without directly owning the coins. They track cryptocurrencies and offer a regulated way to access crypto markets through familiar brokerage accounts instead of crypto wallets or exchanges.
A radical change from an overly speculative retirement
Until early 2025, Vanguard was a vocal critic of cryptocurrencies within traditional finance. Former CEO Tim Buckley often argued that spot Bitcoin ETFs “don’t belong… in a long-term portfolio” for retirement savers and described Bitcoin as “too volatile,” “not a store of value,” and a “speculative asset.”
In 2024, Buckley said Vanguard will not support crypto products until Bitcoin changes as an asset class.
In light of this perspective, the current policy change under the new leadership stands out. This reflects a positive response to continued customer demand, as Vanguard investors have seen competitors such as BlackRock and Fidelity receive significant inflows into spot Bitcoin ETFs.
BlackRock’s physical Bitcoin ETF made history on March 1 by reaching $10 billion in assets under management. It set a new record as the fastest ETF to reach this milestone. Less than three weeks later, the iShares Bitcoin Trust ETF climbed even higher and held $15.9 billion in assets under management.
These figures illustrate how crypto ETFs perform during their early adoption phase. They provide daily liquidity and integrate into standard portfolio processes despite the volatility of the underlying assets.
According to a Bloomberg report, Vanguard’s head of brokerage and investments said crypto ETFs and mutual funds are performing exactly as expected. They continued to operate smoothly even during periods of high market volatility. Hunter Rogers, co-founder of global Bitcoin yield protocol TeraHash, said: “Naturally, this could accelerate the increased legitimization of crypto as part of diversified portfolios. »
Did you know? Crypto ETFs can be traded on major exchanges, just like stock or gold ETFs. This means that investors can buy or sell them during market hours and benefit from intraday liquidity.
How Vanguard’s decision aligns with a broader institutional trend
Vanguard’s change aligns with a broader trend in late 2025:
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Bank of America has expanded access to crypto for its wealth management clients, with internal analyzes recommending modest allocations of 1% to 4% for suitable, risk-aware investors.
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Spot Bitcoin ETFs have attracted tens of billions of dollars in total inflows since early 2024 and rank among the most successful ETF debuts of all time. Their performance confirms sustained demand from individual and institutional investors.
These developments show that some investors are starting to view cryptocurrencies as potential thematic allocations. Expanded access could also increase price fluctuations during major economic events, as ETF investments will convey conventional market views of cryptocurrency trading.
Did you know? Institutional adoption of crypto ETFs has increased as they fit into compliance-friendly frameworks. Pension funds, asset managers and advisory platforms can access cryptocurrencies without implementing compatible custody systems.
How Access to Vanguard’s Crypto ETFs Could Impact the Markets
Vanguard’s decision to offer access to crypto ETFs may influence how retail and institutional investors approach the cryptocurrency ecosystem. The move could also change market dynamics and liquidity of major digital assets.
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Cryptocurrency markets may respond as Vanguard clients explore new ETF options.
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The move could attract more attention from investors who choose to allocate a portion of their portfolios to crypto ETFs.
However, many Vanguard clients are conservative, retirement-focused savers who may not like the volatility associated with cryptocurrencies. For clients looking to invest in crypto ETFs, adding these assets to their portfolios can expand the choices available.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research before making a decision. Although we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness or reliability of the information contained in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on such information.
