Vanguard, the world’s second-largest asset manager with $10 trillion under management, plans to let its brokerage clients access crypto ETFs. The company, which once avoided digital assets, is laying groundwork in 2025 as demand rises, regulators ease rules, and markets anticipate new ETF launches.
According to a Crypto in America report, Vanguard has started external talks about offering select third-party crypto ETFs through its platform. A source familiar with the matter said, “They’re being very methodical in their approach, understanding the dynamics have been changing since 2024.” The company has not decided which products will be included, and no timeline has been set.
Unlike its rival BlackRock, Vanguard has no immediate plans to launch its own crypto ETFs. Instead, clients would gain access to existing funds. Meanwhile, BlackRock recently filed for a Bitcoin Income ETF in Delaware, adding to its Bitcoin and Ethereum offerings. As a result, Vanguard’s entry could broaden access for its 50 million investors, a move seen as major for adoption.
Market watchers say this is a clear shift from the past. Bloomberg analyst Eric Balchunas remarked, “Vanguard is looking to end bitcoin ETF ban (aka bend the knee lol). Smart of them imo. Bitcoin and Ethereum ETFs are hugely popular and Salim was one of IBIT’s midwives so he knows.”
The change follows the appointment of CEO Salim Ramji, a former BlackRock executive who helped launch the company’s Bitcoin ETF, IBIT. That fund has grown to more than $80 billion in assets since early 2024.
At the same time, Ramji has publicly stated that Vanguard will not copy competitors with its own crypto products but has avoided direct answers about third-party ETF access.
Notably, U.S. regulators have recently made it easier for crypto ETFs to reach the market, approving new listing standards to speed up approvals. Analysts expect more altcoin ETFs, possibly including Solana or XRP, to appear later this year.
Vanguard’s move signals a cautious but notable turn in strategy. Once calling Bitcoin unsuitable for long-term investors, the firm now appears ready to meet client demand by opening the door to crypto exposure through its brokerage arm.
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