Vanguard Group Inc., one of the world’s largest asset managers, is weighing whether to allow trading of cryptocurrency-focused exchange-traded funds (ETFs) on its platform—a potential policy shift that could mark a new chapter for the $11 trillion investment giant.
For years, Vanguard has stood apart from competitors by blocking access to Bitcoin and Ether ETFs, while also steering clear of launching its own crypto products. That stance reflected a cautious view of digital assets, often described by the firm as too volatile and speculative for long-term investors. Company founder Jack Bogle and former CEO Tim Buckley were among the most outspoken critics, warning clients to avoid crypto entirely.
Vanguard preparing to allow crypto ETF access on its brokerage platform…
— Nate Geraci (@NateGeraci) September 26, 2025
“Vanguard has begun laying groundwork & holding external discussions in response to strong client demand for digital assets & a shifting regulatory environment.”
Was matter of time.
via @EleanorTerrett pic.twitter.com/YIuvDgNA1Y
Vanguard eyes crypto ETFs as SEC approvals and client demand push the $10T firm to embrace Bitcoin & Ethereum access.
But the investment landscape is changing quickly. Since the U.S. approval of spot Bitcoin and Ether ETFs earlier this year, demand has surged. Bitcoin ETFs now hold more than $142 billion in assets, with BlackRock’s iShares Bitcoin Trust (IBIT) alone amassing about $84 billion. Ether ETFs are also gaining traction, with BlackRock’s ETHA fund reaching $15 billion. Institutional players—ranging from hedge funds to pension managers—have been ramping up exposure, while political leaders push for stronger national strategies around digital assets.
Speaking on the matter, a Vanguard spokesperson emphasized that the firm regularly reviews its brokerage offerings in response to investor needs and regulatory developments. “If and when a decision is made, clients will hear directly from Vanguard,” the spokesperson said.
The possibility of change comes under the leadership of Salim Ramji, who became Vanguard’s CEO in 2024 after a career at BlackRock. As the company’s first externally appointed chief, Ramji is viewed as more open to innovation in blockchain and crypto-related products, fueling speculation that Vanguard may soon align more closely with market trends.
Should Vanguard decide to open its platform to crypto ETFs, millions of its clients could gain easier access to digital asset markets, putting additional pressure on rival brokerages and accelerating crypto’s integration into mainstream investing.
