Vanguard is set to offer its 50 million investors access to third-party cryptocurrency ETFs, marking a significant shift in its approach to digital assets. This decision, driven by increasing client demand, will be facilitated through Vanguard's brokerage platform, although the firm will not issue its own crypto ETFs. Gerald Gallagher of Sei Labs confirmed the plans, highlighting internal sentiments of 'regret' over the delay in embracing crypto.
The move is seen as a strategic pivot under the leadership of new CEO Salim Ramji, who previously spearheaded BlackRock's Bitcoin ETF initiative. Bloomberg ETF analyst Eric Balchunas described the decision as 'smart,' anticipating a positive market impact as Vanguard aligns with growing investor interest in cryptocurrencies.
Vanguard to Provide Access to Crypto ETFs for 50 Million Investors
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