Summary
- Vanguard said it holds about $505 million worth of shares in Strategy, which holds a large amount of Bitcoin.
- Vanguard said it chose an indirect exposure approach via equity stakes in companies with a high Bitcoin weighting, rather than buying Bitcoin directly.
- The market is said to view this case as evidence that institutional capital’s approach to Bitcoin is evolving in a more pragmatic direction.
It has been confirmed that global asset manager Vanguard, known for its conservative investment stance, holds a meaningful stake in Strategy, a listed company with a large Bitcoin holding.
According to CryptoDNES, a media outlet specializing in virtual assets (cryptocurrencies), Vanguard said in a recent filing that it holds about $505 million worth of Strategy shares (about KRW 744 billion). The information was disclosed through a routine filing without a separate announcement.
Vanguard is one of the world’s largest asset managers, overseeing about $12 trillion in assets under management, and has so far maintained a cautious stance on related products, citing the volatility and risks of digital assets. This time as well, rather than buying Bitcoin directly or launching crypto-linked products, it opted for indirect exposure via equity stakes in companies with a high Bitcoin weighting.
Strategy (formerly MicroStrategy) is a company that holds most of its balance sheet in Bitcoin and makes a long-term holding strategy a core management principle. With a structure in which its share price shows high sensitivity to Bitcoin price moves, it has been used in traditional finance as a vehicle for indirect investment in Bitcoin.
Notably, the fact that this investment was made without separate promotion is also drawing attention. It is seen as showing that regulated institutions’ Bitcoin exposure is expanding gradually through internal risk management and regulatory compliance processes, rather than through an overt strategic pivot.
The outlet reported that “it is hard to say this case immediately signals a shift in Vanguard’s crypto strategy,” adding that “the market is increasingly viewing the approach of institutional capital as evolving in a more pragmatic direction.”
