Vanguard Group, which oversees about $12 trillion in assets, remains skeptical of Bitcoin despite allowing clients to trade spot Bitcoin ETFs. One of the firm’s top investment leaders says its core view on crypto has not changed. Is Vanguard Rejecting Bitcoin as an Investment? John Ameriks, Vanguard’s global head of quantitative equity, said that Bitcoin
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- Vanguard now allows clients to trade Bitcoin, Ethereum, XRP, and Solana ETFs.
- XRP ETFs have seen $756M inflows in 11 days, with no outflows recorded.
- Goldman and other firms are boosting crypto exposure alongside Vanguard.
In a dramatic shift that signals growing acceptance of digital assets by mainstream finance, Vanguard has opened its brokerage platform to regulated crypto ETFs.
Starting this week, US investors can access exchange-traded funds tied to Bitcoin, Ethereum, XRP, and Solana, marking a major reversal from the firm’s long-held resistance to cryptocurrency.
Just found this on Vanguard’s official website
Multiple XRP ETFs (Franklin, Canary, REX-Osprey, ProShares…) are now showing under « Non-Vanguard Funds » in the Digital Assets category.
Looks like access is finally opening up for crypto ETFs pic.twitter.com/Y08IgtAybg
— Arthur (@XrpArthur) December 2, 2025
Notably, the move comes amid surging client demand and increasing institutional interest in digital assets, reshaping Vanguard’s traditional investment philosophy.
Vanguard finally embraces crypto
For years, Vanguard maintained a cautious stance toward cryptocurrencies, with former CEO Tim Buckley publicly dismissing BTC and other digital assets as too speculative and unsuitable for long-term portfolios.
The firm consistently refused to offer crypto ETFs, emphasising stability and low-risk investments for retirement-focused clients.
However, leadership changes paved the way for a rethink.
Salim Ramji, formerly the global head of ETFs at BlackRock, assumed the CEO role and gradually steered Vanguard toward regulated crypto offerings.
While the firm still will not create its own crypto ETFs or mutual funds, it now supports third-party products that meet regulatory standards, providing clients with access to digital assets while maintaining compliance.
The platform expansion enables more than 50 million US brokerage clients to trade crypto ETFs alongside other non-core assets like gold.
This could significantly increase market participation, with some predicting near-term price boosts in Bitcoin (BTC) and Ethereum (ETH).
Vanguard’s inclusion of XRP ETFs
Among the new offerings, XRP-based ETFs have generated particular excitement.
In just 11 trading days, spot XRP ETFs have recorded net inflows exceeding $756 million, with total assets under management reaching $723 million.
Remarkably, there have been no outflows, and major inflow events include $243 million during Canary Capital’s launch, $164 million tied to Grayscale and Franklin Templeton ETFs, and $89.65 million in the most recent session.
This rapid accumulation is reducing the liquid XRP supply on exchanges, potentially creating a supply shock that could influence pricing.
Mainstream finance accelerates crypto adoption
Vanguard’s pivot reflects a broader trend among traditional financial institutions embracing crypto.
Goldman Sachs, for example, is deepening its exposure through a $2 billion acquisition of Innovator Capital Management, which issues defined-outcome ETFs, including Bitcoin-linked structured funds.
The bank has rapidly increased its holdings in Bitcoin and Ethereum ETFs, totalling billions in assets, while also developing infrastructure for tokenised financial products.
Industry observers view these moves as part of a gradual yet significant integration of digital assets into mainstream portfolios, indicating that regulated, institutionally backed crypto investment is shifting from a niche to a standard.
The implications of Vanguard’s decision extend beyond immediate market activity.
By allowing access to regulated crypto ETFs, the firm is providing a channel for both retail and institutional investors to participate in digital asset markets within a familiar, compliant framework.
This could draw additional inflows, potentially reshaping liquidity dynamics and market sentiment across Bitcoin, Ethereum, XRP, and Solana.
For Vanguard, the shift represents not only a strategic response to client demand but also an acknowledgement that digital assets have become a permanent fixture in the global financial landscape.
Asset manager Vanguard has trimmed its stake by 10%, in Michael Sayor’s Strategy (previously MicroStrategy), during the second quarter of 2025. This comes as the MSTR stock has lost its volatility and has been trading in a very tight range over the past four months, finding support at $360. The recent trimming of stake by
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]]>In a surprising turn of events, Bitcoin critic and $10 trillion asset manager Vanguard has become the largest Strategy shareholder, holding the most MSTR shares. The asset manager had previously described BTC as an immature asset class, but is now the largest backer of Michael Saylor’s Bitcoin treasury company. Vanguard Now Holds The Most MSTR
The post Bitcoin Critic Vanguard Becomes Strategy’s (MSTR) Largest Shareholder appeared first on CoinGape.
]]>Top December 2024 Crypto Picks: Buy $TICS at $0.025, Cardano Targets $5, Fantom Bulls Push for Yearly High Vanguard
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In a bold move, Daffy, a Donor Advised Fund platform, has opted to drift away from the traditional approach of utilizing Vanguard funds in its model. Instead, it has chosen to embrace Bitwise funds, including the BITB Bitcoin ETF to incorporate exposure to cryptocurrencies. Moreover, Bitwise CEO Hunter Horsley lauded the firm’s move to resort to Bitwise funds for crypto exposure.
Bitwise CEO Applauds Daffy
The decision marks a notable departure from convention, reflecting a growing appetite for crypto assets within investment circles. Bitwise CEO Horsley commended Daffy’s forward-thinking approach. Moreover, he emphasized the significance of enabling crypto exposure in today’s rapidly evolving financial environment.
In a post on X, the Bitwise CEO stated, “Vanguard chose to block out bitcoin. So now a fast-growing Donor Advised Fund platform, Daffy, that otherwise uses all Vanguard funds in their model is using Bitwise funds to add exposure instead — because they want to enable crypto exposure.”
In addition, underscoring the growing adoption of the Bitwise Bitcoin ETF and other crypto assets, Horsley noted, “The world will move forward one way or the other.” Daffy’s portfolio now includes two distinct options for investors seeking diversified exposure to cryptocurrencies. The Crypto-Diversified Conservative portfolio allocates 5% to the Bitwise 10 Crypto Index Fund (BITW).
Whilst, the Crypto-Diversified Aggressive portfolio ups the ante with a 10% allocation to the recently approved Bitwise Bitcoin ETF (BITB). Moreover, the growing adoption of Bitwise Bitcoin ETF places it strategically strong amid its rivals.
Horsley further underscored the momentum behind Bitwise’s offerings. He revealed, “This week a major national US wealth platform selected and approved advisor access to the Bitwise Bitcoin ETF (BITB). They can now discuss Bitcoin ETFs with clients. Months of diligence. Honored to be their partner.” This announcement signals a watershed moment for the Bitwise Bitcoin ETF.
Also Read: Bitcoin Futures See Unprecedented $38B Open Interest
Grayscale Spot Bitcoin ETF Outflows Hit Low
Throughout this week, Spot Bitcoin ETFs have experienced a resurgence in net inflows, following a period of heavy outflows last week. On Thursday, March 28, all nine Spot BTC ETFs collectively recorded a combined inflow of $178 million, marking a significant turnaround. Notably, there was a major decrease in outflows for the Grayscale Bitcoin ETF (GBTC), which saw a 60% reduction in outflows compared to the previous day.
This month, Grayscale’s GBTC registered significant outflows. However, on Thursday, GBTC experienced its lowest outflow since March 12, signaling a potential shift in investor sentiment. According to data from Farside Investors, over $14.6 billion worth of Bitcoin have been withdrawn from GBTC since the launch of these ETFs. Whilst, GBTC has seen a decline of over 50% in its Bitcoin holdings since the beginning of the year, with its current value standing at $340,000.
One significant factor contributing to the high outflows from GBTC is its comparatively high management fee. This has prompted investors to redirect their funds from GBTC to other BTC ETFs such as BlackRock and Fidelity, which offer lower management fees. BlackRock’s IBIT Bitcoin ETF, in particular, has seen an impressive $13.8 billion in inflows and is poised to surpass GBTC in total assets under management (AUM).
Also Read: Bitwise CEO Predicts Monumental Bitcoin Halving Impact
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The Crypto Vanguard: BlockDAG’s Keynote Explains How it Redefines Wealth Creation Amidst Pendle’s Price Predictions and Shiba Inu’s New ATH Coinfomania
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As the Bitcoin price comes under strong selling pressure after the ETF approval earlier this week, Vanguard is doubling down on its fight against the investment product. Earlier this week, Vanguard said that it won’t join other big players like BlackRock in offering Bitcoin ETFs.
Vanguard Doubles Down on No Crypto Stand
Vanguard is reinforcing its commitment to avoid cryptocurrency investments by not only abstaining from spot bitcoin exchange-traded funds (ETFs) but also removing existing bitcoin futures products from its brokerage offerings.
This move diverges from the trend observed among other financial giants like BlackRock, Invesco, and Fidelity, who recently introduced their own branded Bitcoin ETFs.
Effectively immediately, Vanguard has ceased accepting purchases of cryptocurrency products, including Bitcoin futures ETFs, underscoring its clear stance against delving into the crypto market.
Speaking to Axios, a spokesperson for Vanguard explained that this decision aligns with the company’s strategic focus on providing a core set of products and services, maintaining consistency with its dedication to serving the long-term investment needs of clients.
While some financial institutions embrace the growing interest in cryptocurrency, Vanguard’s decision reinforces its commitment to a more traditional investment approach, steering clear of the evolving landscape of digital assets.
Users Start Backlash on Social Media
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
With Vanguard not allowing users to invest in the spot Bitcoin ETFs now available in the United States, customers are threatening to leave the company, citing a misalignment with the investment philosophy.
Vanguard Group, the world’s second-largest asset management company, has blocked users from buying the newly approved Bitcoin spot exchange-traded funds (ETFs) on its brokerage platform.
The asset manager stated that these new investment products do not align with its traditional business offerings. Consequently, Vanguard issued a “trade cannot be completed” warning to users attempting to purchase BlackRock’s iShares Bitcoin Trust (IBIT) or Grayscale Bitcoin Trust (GBTC).
“Buy orders are not currently accepted for this security. Securities may be unavailable for purchase at Vanguard due to a number of variables, including regulatory restrictions, corporate actions, or various trading and/or settlement limitations,” the message reads.
Vanguard Has No Plans for Bitcoin Spot ETFs
According to a Wall Street Journal report, the company, with $7.3 trillion in assets under management, has no plans to offer any of the BTC ETFs.
Vanguard was not among asset managers that applied for spot Bitcoin ETFs with the United States Securities and Exchange Commission (SEC) last year and does not intend to do so.
“Spot Bitcoin ETFs will not be available for purchase on the Vanguard platform. We also have no plans to offer Vanguard bitcoin ETFs or other crypto-related products.”
The company claims these assets do not align with its traditional offerings, such as bonds, equities, and cash.
“Our perspective is that these products do not align with our offerings focused on asset classes such as equities, bonds, and cash, which Vanguard views as the building blocks of a well-balanced, long-term investment portfolio.”
Vanguard Users Threaten to Close their Accounts
Tony Spencer, a Vanguard customer, mentioned in a post on X that a spokesperson informed him that the company’s reluctance to allow spot Bitcoin ETFs was rooted in the product not fitting with its investment philosophy.
Furthermore, Vanguard purportedly only permits investors to sell Grayscale’s flagship Bitcoin product, GBTC, which recently gained approval to be converted into a spot ETF.
Wow. It is worse than I thought. I called and the answer I received was “Currently we aren’t allowing those to be purchased as it doesn’t fit with Vanguard’s investment philosophy.”
Me: “Ok but you let me buy GBTC in the past.”
Him: “Yes I believe you can only sell that now.”
— Tony Spencer (@notsleepy) January 11, 2024
With Vanguard not allowing users to invest in the spot Bitcoin ETFs now available in the United States, customers are threatening to leave the company, citing a misalignment with the investment philosophy.
Some customers, including Coinbase engineering manager Yuga Cohler, disclosed his intention to transfer his Roth 401(k) savings from Vanguard to Fidelity. Fidelity is one of the issuers of the 10 spot Bitcoin ETFs that debuted on January 11.
“Vanguard’s paternalistic blocking of Bitcoin ETFs does not fit in with my investment philosophy,” Cohler said.
Bitcoin commentator Neil Jacobs echoed similar sentiments, noting that he is currently in the process of moving his funds from Vanguard to other asset management companies.
Jacobs criticized Vanguard’s decision not to allow Bitcoin spot ETFs, labeling it a “terrible business decision”.
Despite Vanguard and State Street’s decision to abstain, the SEC is approaching a crucial deadline to announce its decision on the first Bitcoin ETF in early January.
The anticipation surrounding the potential approval of spot Bitcoin Exchange-Traded Funds (ETFs) in the United States has reached its zenith. However, amid the frenzy, two major players in the ETF industry, Vanguard Group, and State Street Corp (NYSE: STT), have notably chosen to stay on the sidelines.
While other industry giants like BlackRock Inc (NYSE: BLK) and Grayscale Investments LLC eagerly await regulatory approval, Vanguard, and State Street have taken a firm stance against entering the crypto ETF race.
Vanguard and State Street’s Crypto ETF Position
Vanguard Group, renowned for its predominantly passive, low-cost ETFs, has made its position crystal clear. In a statement, the Valley Forge-based firm said, “Vanguard has no intent to offer a spot Bitcoin ETF or any other crypto-related products. Vanguard believes that the investment case for cryptocurrencies is weak.”
The company argued that, unlike traditional stocks and bonds, most crypto assets lack intrinsic economic value and do not generate cash flows, adding that the high volatility of cryptocurrencies contradicts their goal of helping investors achieve positive real returns over the long term.
On the other hand, State Street, based in Boston and home to the $57 billion SPDR Gold Shares, the largest commodity ETF, has taken a more relaxed stance. While not fervently opposed to the idea of a crypto ETF, the company stated, “We continuously evaluate our lineup of ETFs, but at this time we do not offer a crypto ETF.”
It’s intriguing, considering the firm’s expertise in managing the SPDR Gold Shares, especially given the frequently touted narrative of Bitcoin as “digital gold”.
It is worth noting that this is not the first time that Vanguard and State Street have chosen to remain on the sidelines during a market hype cycle. In 2020, both companies opted out of entering the realm of active, non-transparent ETFs (ANTs), which were initially projected to amass as much as $7 trillion in assets.
The skepticism displayed by Vanguard and State Street appears to have been justified, as three years later, ANTs hold fewer assets than initially predicted.
Anticipation of a Spot Bitcoin ETF
Despite Vanguard and State Street’s decision to abstain, the Securities and Exchange Commission (SEC) is approaching a crucial deadline to announce its decision on the first Bitcoin ETF in early January.
A recent report from Coinspeaker suggests that talks between the SEC and ETF applicants have entered a crucial stage, increasing the chances of a potential approval. Thirteen firms, including BlackRock, Grayscale Investments, ARK Invest, and Invesco, are awaiting the SEC’s decision.
Michael Sonnenshein, the CEO of Grayscale expressed optimism about recent conversations with the SEC. He mentioned that the SEC’s questions signal eagerness to make progress on the issue. Notably, Grayscale achieved a significant legal victory in August when three judges ruled that the SEC must re-evaluate its application for a spot Bitcoin ETF.
While Grayscale and others are optimistic about the SEC’s signals, the agency’s Chair, Gary Gensler, remains a well-known crypto skeptic. The SEC’s decision not to appeal the August ruling may hint at an eventual approval, but the timeline remains uncertain.
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