Vanguard will allow clients to trade crypto funds such as XRP, officially opening its crypto ETF channel.

Odaily Planet Daily reports that Vanguard, with $11 trillion in assets under management, has announced a shift in its previous stance against cryptocurrencies, and will begin allowing spot cryptocurrency exchange-traded funds (ETFs) to be traded on its platform starting Tuesday. This move is seen as a significant concession to investor demand.

Andrew Kadjeski, head of brokerage and investment at Vanguard, stated that Vanguard aims to provide its more than 50 million brokerage clients with the ability to choose investment products. Clients will be able to buy and sell ETFs and mutual funds holding BTC, ETH, XRP, and Solana. Vanguard has joined giants such as BlackRock, Fidelity, and Franklin Templeton.

BlackRock's iShares Bitcoin Trust ETF holds $66 billion in BTC assets, but this has declined from its peak of nearly $100 billion. The XRP ETF has attracted $756 million in investments since its launch on November 13th, and the Solana ETF has attracted $605 million in inflows since its launch in October. Vanguard stated that it currently has no plans to launch its own crypto product. (DLnews)