Another day, another major financial institution embracing cryptocurrencies. This time it is pioneerthe world’s second largest asset management company. Starting Tuesday, Bloomberg Report Brokerage firms – which have long believed cryptocurrencies are Not suitable Its Client Investments will begin listing crypto ETFs and mutual funds, including funds for Bitcoin, Ethereum, Solana and XRP.
Vanguard has approximately $11 trillion in assets and more than 50 million customers. The move means investors of all types can now buy and sell crypto ETFs.
Historically, the company has not been shy about expressing its distaste for cryptocurrencies. When Bitcoin ETFs were launched in the U.S. last year, Vanguard’s CEO said he didn’t consider them part of a long-term investment portfolio.
But given the success of crypto ETFs over the past few years, brokerages can no longer afford to miss this opportunity. In late October, several ETFs for small cryptocurrencies such as Solana and Hedera Launched at other brokerages. One such ETF, the Bitwise Solana Stake ETF, is the best ETF to launch in 2025 across all asset classes, according to Eric Balchunas of Bloomberg Intelligence.
Since the launch of the first cryptocurrency ETFs in 2024, the trading volume of cryptocurrency ETFs has reached huge levels. That year, BlackRock’s iShares Bitcoin Trust ETF (IBIT) and its Ethereum Fund (ETHA) put Record inflows. Currently, iBit holds approximately $66 billion worth of Bitcoin on behalf of its clients.
The crypto industry has been fighting for an ETF since at least 2013, when Cameron and Tyler Winklevoss sought approval for a spot Bitcoin ETF. After years of rejections from the U.S. Securities and Exchange Commission, the door is now open for cryptocurrency funds.
Vanguard’s bet on crypto ETFs comes amid a period of underperformance for major cryptocurrencies. Since reaching a high of around $126,000 in early October, Bitcoin It has dropped about 28% to the current price of about $91,000. Ethereum and Solana Prices are currently down 22% and 24% to $2,993 and $140 respectively.