Overview

• Crypto In America reporter Eleanor Terrett says Vanguard has begun internal groundwork and external partner talks to enable brokerage access to third-party crypto ETFs, with no timeline or product list confirmed.
• The plan under consideration focuses on listing established external funds, and the firm has reiterated it does not intend to launch proprietary crypto products.
• The move would reverse Vanguard’s 2024 policy that blocked client purchases of spot Bitcoin ETFs and followed public skepticism from executives about crypto’s investment merit.
• Analysts point to CEO Salim Ramji’s influence, noting his role at BlackRock in launching the iShares Bitcoin Trust, as peers like BlackRock, Fidelity, Schwab, and Morgan Stanley/E*Trade expand crypto access.
• Given roughly $10 trillion in assets and more than 50 million client accounts, even limited access to top crypto ETFs could materially affect market liquidity and flows, according to industry commentary.