Asset manager Vanguard, with $10 trillion in assets under management (AuM), is planning to offer crypto ETFs access to its brokerage clients. This comes after a long period of staying on the sidelines despite moves from competitors like BlackRock, which have issued their crypto funds.
Vanguard To Offer Crypto ETFs To Its Brokerage Clients
According to a Crypto In America report, the world’s second-largest asset manager, behind BlackRock, plans to offer access to crypto ETFs on its brokerage platform. The firm has, up to now, remained on the sidelines regarding crypto offerings, despite a more regulatory-friendly environment.
However, that could change soon enough as Vanguard has reportedly begun laying the groundwork and holding external discussions as it looks to meet strong client demand for crypto assets and a shifting regulatory environment.
Notably, this development comes as crypto ETFs continue to gain greater adoption, and ahead of the potential launch of more altcoin ETFs by October. Meanwhile, the SEC has already approved the generic listing standards that could see more crypto funds hit the market sooner rather than later.
While Vanguard plans to offer crypto ETFs, the asset manager reportedly still has no plans to launch its own crypto products, unlike BlackRock and other asset managers. Instead, the firm will simply allow brokerage customers to access select third-party crypto ETFs, although it has yet to decide which products exactly it will offer.
Interestingly, BlackRock registered a Bitcoin Income ETF in Delaware, signaling plans to launch another Bitcoin ETF. The world’s largest asset manager has so far chosen to limit its crypto offerings to just Bitcoin and Ethereum, despite moves by other asset managers to file for funds that hold Solana, XRP, Dogecoin, and similar assets.
Source: https://coingape.com/vanguard-plans-to-offer-crypto-etfs-to-brokerage-clients/
