Vanguard Plans Access to Third-Party Crypto ETFs Amid Client Demand
Vanguard, a major asset management firm, is reportedly shifting its anti-crypto stance by planning to offer brokerage clients access to third-party crypto ETFs. This move is driven by client demand and regulatory changes.
- The change in strategy aligns with CEO Salim Ramji, who previously succeeded with crypto products at BlackRock.
- Despite not launching its own crypto ETFs, Vanguard may soon allow third-party crypto ETF offerings.
- Competitors like Fidelity and Charles Schwab have already integrated crypto offerings, putting pressure on Vanguard to adapt.
- Fidelity’s Ethereum ETF has shown strong performance, indicating institutional interest that Vanguard has yet to capture.
- Wall Street firms such as Morgan Stanley's E*Trade are also expanding into crypto trading, further isolating Vanguard's conservative approach.