According to Bloomberg-linked reports, Vanguard Group, the world’s second-largest asset manager with roughly $8.7–11 trillion in assets under management, will begin allowing its clients to access cryptocurrency-related investment products on its brokerage platform. Vanguard had previously taken a hard line against offering crypto investment products, blocking access to ETFs and funds that primarily hold digital assets. This stance contrasted with rivals that embraced spot and futures-based Bitcoin ETFs and other crypto products. From December 2, 2025, Vanguard will start allowing trading of cryptocurrency ETFs and crypto-focused mutual/other funds that primarily hold assets such as Bitcoin, Ether, XRP and Solana. The change will open access to existing spot and futures-based crypto ETFs and related funds on its brokerage platform, ending the prior ban on these products. Market participants view the shift as a major reversal by a traditionally conservative asset manager and a response to the strong client demand and commercial success of competitors’ Bitcoin and broader crypto ETFs. It is seen as a significant step toward mainstream portfolio access to crypto exposure via a major U.S. retail and advisory platform. [Update 1] New details clarify that the policy change is scheduled to take effect on December 2, 2025, and that Vanguard’s platform will permit trading in crypto ETFs and funds primarily holding assets such as BTC, ETH, XRP and SOL, expanding beyond just Bitcoin-related products.