$11 trillion asset manager Vanguard considers offering Bitcoin to its clients
Vanguard, an investment firm with $11 trillion in assets under management, is reportedly flirting with the idea of offering Bitcoin (BTC) products to its clients. Serving some 50 million investors, Vanguard currently does not have any crypto-related offerings, so the very idea of exploring such assets signals a potentially fundamental shift. This is especially true since the firm has long stood apart from its rivals, known for its sharp criticism of Bitcoin exchange-traded funds (ETFs) when they debuted in January 2024. Back then, Vanguard argued that cryptocurrencies lacked inherent economic value and produced no cash flow, possessing only inherent risk. However, it now appears that increasing client demand has led to a change of heart, as the growing institutional appetite for and the success of Bitcoin ETFs has never been stronger, as reported by Bloomberg on Wednesday, October 1. JUST IN: Bloomberg says Vanguard is considering offering Bitcoin ...