Vanguard has reversed its long-running stance on digital assets and will now let clients trade Bitcoin and other crypto ETFs and mutual funds on its brokerage platform, opening regulated exposure to millions of mainstream investors.
One of the world’s largest asset managers has quietly made one of the most significant crypto moves of the year. Vanguard has reversed its long-standing stance on digital assets and will now allow clients to trade Bitcoin and other crypto-linked ETFs and mutual funds on its brokerage platform.
For a firm that has traditionally distanced itself from cryptocurrencies, the shift marks a notable change in tone, and could have important implications for how mainstream investors access the market.
From Blockade to Access
Vanguard had effectively blocked access to crypto ETFs since early 2024, even after US regulators approved spot Bitcoin funds and opened the door to large-scale institutional and retail inflows.
That blockade has now been lifted. The company will not launch its own crypto products, but it will allow trading in third-party funds that hold Bitcoin, Ethereum, XRP, Solana and other major assets, in a similar way to how it offers access to gold ETFs without running one itself.
The decision gives more than 50 million Vanguard brokerage clients the ability to buy regulated crypto exposure within a familiar environment, a major step for a customer base that is often more cautious than the average crypto trader.
Why Vanguard Changed Its Mind
Vanguard has framed the decision as a response to the maturing of crypto fund infrastructure and the availability of more robust performance and risk data. The explosion of spot Bitcoin ETF assets since 2024, including the rapid growth of some of the largest funds in history, has shown that demand for regulated digital-asset exposure is not going away.
At the same time, the broader ETF landscape has evolved. In November, US regulators approved spot ETFs on several major altcoins, including Solana, XRP, Litecoin and Hedera Hashgraph, which have since attracted hundreds of millions of dollars in inflows.
Taken together, these developments created a situation where Vanguard risked being an outlier by continuing to deny clients access to a segment that is increasingly embedded in global markets.
What It Means for Crypto Markets
While Vanguard’s move does not guarantee a fresh wave of buying, it significantly widens the potential audience for crypto ETFs. Many of the firm’s clients are long-term investors who prefer to keep assets within a single platform, and the ability to add a small crypto allocation alongside traditional funds may prove attractive.
The timing is also interesting. Bitcoin has just come through a period of heavy ETF outflows and price volatility, yet research suggests the underlying market has become deeper and more institutional in character.
Opening up access at this stage could help support the next phase of adoption, particularly if 2026 brings clearer central-bank signals and a more favourable macro backdrop for risk assets.
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How Brokers and Traders Should View the Shift
For brokers and platforms, Vanguard’s decision is another sign that crypto exposure is moving firmly into the regulated, mainstream investment toolkit rather than remaining on the fringes. Competing firms may feel pressure to review their own policies if they have been slow to embrace digital-asset products.
For traders, the change is a reminder that structural developments, such as who can access crypto, where and through which vehicles, can be just as important as day-to-day price moves. Wider distribution through large incumbents tends to support liquidity, narrow spreads and a more diverse investor base over time.
Vanguard may not be launching its own Bitcoin ETF, but by opening its doors to those of others, it has added another layer of legitimacy to a market that, for many of its clients, once seemed far too distant.
