Vanguard has about $11 trillion in assets and more than 50 million customers. The move means that investors of all kinds can now buy and sell crypto ETFs.
The firm has, historically, not been shy about its distaste for crypto. When Bitcoin ETFs launched in the U.S. last year, Vanguard’s CEO said that he didn’t believe they belonged in a long-term portfolio.
The crypto industry has fought for ETFs since at least 2013, when Cameron and Tyler Winklevoss sought approval for a spot Bitcoin ETF. After years of rejection from the Securities and Exchange Commission, the doors have now flown open for crypto funds.
