Vanguard Reverses Course, Opens Platform to Regulated Crypto ETFs
On Dec. 1, 2025, Vanguard announced it will permit regulated digital-asset ETFs on its platform, marking a significant policy U-turn and expanding access to roughly 50 million clients. The firm said any offerings must meet its compliance, custody and investor-protection standards; it did not provide a specific timetable for first listings. Vanguard framed the change as a response to client demand and evolving regulatory clarity.
The move could redirect meaningful retail flows into spot and futures crypto ETFs and intensify competition with large asset managers already in the space. For the market, Vanguard’s entry signals broader institutional acceptance of regulated crypto products and may accelerate standardization around custody, disclosure and fee pressure. Investors should view the change as increased access rather than a reduction in crypto’s inherent volatility and regulatory risks.