Vanguard’s Crypto U-Turn: A Tale of Hypocrisy and 🤑

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In a twist as unexpected as a summer frost, Vanguard, the bastion of financial conservatism, is reportedly reconsidering its stance on crypto ETFs. Could this be the dawn of a new era, or merely a fleeting fancy?

Vanguard’s Great Awakening: Crypto ETFs Knocking at the Door

Ah, Vanguard, the $10 trillion behemoth that has long regarded cryptocurrencies with the disdain of a nobleman sniffing at a peasant’s dinner. Yet, whispers now suggest this financial titan is contemplating allowing its brokerage clients access to third-party crypto ETFs. How the mighty waver! 🌪️

Crypto In America’s Eleanor Terrett shared on the digital town square, X, on Sept. 26:

Vanguard, the world’s second-largest asset manager, is reportedly preparing to open its brokerage platform to crypto ETFs. A source close to the matter confirms this seismic shift.

This about-face is as startling as a bear at a tea party, given Vanguard’s long history of crypto skepticism. Duncan Burns, the firm’s Asia-Pacific chief investment officer, once declared bitcoin’s investment merits “weak” and its intrinsic value as nonexistent. “A long-term portfolio’s worst nightmare,” he quipped, adding, “Many have lost their shirts, and more will follow.” 🧥👻

Even Vanguard CEO Salim Ramji, in 2024, reaffirmed the firm’s reluctance to launch its own crypto ETF. Yet, irony abounds: Vanguard is now a top shareholder in Strategy Inc. (aka Microstrategy), a company as tied to bitcoin as a barnacle to a ship. 🦞

“The $10 trillion giant has finally peeked over the crypto fence,” Terrett noted. A source added, “They’re moving with the caution of a cat crossing an icy pond, but the dynamics have shifted since 2024.” 🐱❄️

Industry analysts find this contradiction as rich as a Chekhovian subplot. Bloomberg ETF analyst Eric Balchunas remarked on X: “Vanguard is eyeing an end to its bitcoin ETF ban. Smart move, considering the popularity of Bitcoin and ETH ETFs. Salim, being one of IBIT’s midwives, knows the lay of the land.” He continued:

For the crypto enthusiasts reeling from bitcoin’s recent dip after a 350% surge, here’s a silver lining: Vanguard’s 50 million investors could soon join the party. Many may not be crypto-savvy, but their sheer number is staggering-they’re the US’s largest fund company by a mile.” 🎉

If this shift materializes, it would be a reversal as dramatic as a Chekhovian character’s sudden epiphany. Will Vanguard’s crypto awakening be a triumph or a folly? Only time-and the fickle market-will tell. 🕰️💸

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2025-09-29 02:58