Vanguard will open trading in funds related to crypto assets such as Bitcoin, Solana, and XRP.

Odaily Planet Daily reports that Vanguard will begin allowing clients to trade ETFs and mutual funds primarily holding cryptocurrencies on its platform starting this week, including assets such as Bitcoin, Ethereum, Solana, and XRP. This move contrasts sharply with its previous long-standing refusal to engage in crypto products. The report indicates that the company is adjusting its strategy under pressure from retail and institutional clients, and related crypto asset funds will be open for trading to its users starting Tuesday.

Vanguard had previously stated publicly that it would not offer any crypto-related ETFs, including the Bitcoin spot ETFs launched by BlackRock and Fidelity. Bloomberg reports that Vanguard has been reassessing its policy since September of last year. Andrew Kadjeski, the company's head of brokerage and investment, stated that crypto ETFs have performed as expected amid market volatility, fund management processes are maturing, and investor preferences are changing.

Vanguard currently serves over 50 million brokerage accounts and manages over $11 trillion in assets. With the US approving Bitcoin and Ethereum spot ETFs, more funds tracking assets such as XRP, Solana, Dogecoin, and Litecoin are also launching. Bloomberg analyst Eric Balchunas predicts that over 100 new crypto ETFs may be listed in the next six months. (The Block)