Vanguard, one of the world’s largest asset managers, has stated that it will allow its brokerage clients to trade cryptocurrency-focused exchange-traded funds (ETFs) and mutual funds beginning in early December 2025.
The historic regulatory decision lifts a years-long ban on crypto investment products, bringing digital assets like Bitcoin, Ethereum, XRP, and Solana on par with traditional non-core assets like gold. This initiative allows Vanguard’s estimated 50 million brokerage customers to access regulated cryptocurrency wrappers, potentially attracting new institutional and retail capital to the crypto markets.
50M Investors Gain Access as Vanguard Ends Its Crypto Block
Vanguard has around $11 trillion in assets and over 50 million customers. The change implies that investors of all types can now buy and sell crypto ETFs.
Historically, the company has been open about its dislike for cryptocurrency. When Bitcoin ETFs launched in the United States last year, Vanguard’s CEO stated that he did not think they belonged in a long-term portfolio.
However, considering the popularity of cryptocurrency ETFs in recent years, the brokerage couldn’t pass up the opportunity. In late October, several ETFs based on minor cryptocurrencies, such as Solana and Hedera, were introduced on different brokerages. One of these ETFs, the Bitwise Solana Staking ETF, had the strongest ETF launch of any asset class in 2025, according to Bloomberg Intelligence’s Eric Balchunas.
Crypto Market Spikes as Wall Street Opens Doors to Digital Assets
Since this announcement, the crypto market has rebounded above $3 trillion. According to Bloomberg Intelligence analyst Eric Balchunas, Bitcoin’s intraday spike coincided almost precisely with the opening of the US equity market – the first session after Vanguard investors regained access to spot bitcoin ETFs.
“On the first day after the ban was removed, Bitcoin surged 6% around the US open. Coincidence? “I think not,” Balchunas said on X, noting that BlackRock’s IBIT witnessed $1 billion in volume in the first 30 minutes.
Vanguard’s reversal comes on the same day that Bank of America reportedly informed advisers across Merrill, Private Bank, and Merrill Edge that clients can now allocate 1%-4% of their portfolios to cryptocurrency, lifting a long-standing restriction that prevented over 15,000 advisers from proactively recommending digital-asset investments.
