Summary
- Vanguard said it has decided to allow trading on its platform of virtual asset-based ETFs and mutual funds.
- It said ETFs and mutual funds that hold certain virtual assets as primary assets — such as Bitcoin (BTC), Ethereum (ETH), XRP (XRP), and Solana (SOL) — will be included among tradable products.
- The industry said the move indicates a change in Vanguard's conservative stance and was made despite the decline in the digital asset market's market capitalization.
Vanguard (Vanguard Group), the world's No. 2 asset manager, has decided to allow trading of virtual asset (cryptocurrency)-based exchange-traded funds (ETFs) and mutual funds on its platform.
According to Bloomberg on the 2nd (local time), Vanguard will classify ETFs and mutual funds that hold certain virtual assets as primary assets — including Bitcoin (BTC), Ethereum (ETH), XRP (XRP), and Solana (SOL) — as tradable products on its platform starting Tuesday.
The decision has attracted market attention because it was made despite the digital asset market having experienced a decline in market capitalization of about $1 trillion since early October.
Industry observers view the move as a sign of a major shift in Vanguard's conservative stance. Until now, Vanguard had maintained that virtual assets were highly volatile and speculative and not suitable for long-term investment portfolios, but this effectively reverses that stance.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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