Vanguard’s Epic U-Turn: XRP ETFs Unlocked for $11 Trillion – Retirement Funds Incoming?
Bitwise's XRP exchange-traded fund is now available for Vanguard clients, according to a recent social media post by chief executive officer Hunter Horsley.
Quick overview
- Bitwise's XRP exchange-traded fund is now available for Vanguard clients, as announced by CEO Hunter Horsley.
- Vanguard, a conservative asset manager with over $11 trillion in assets, has historically prohibited cryptocurrency products.
- Over 50 million Vanguard clients can now trade specific cryptocurrency ETFs and mutual funds containing crypto assets.
- Despite this shift, Vanguard remains cautious and does not plan to follow rival Blac's lead in cryptocurrency investments.
Bitwise’s XRP exchange-traded fund is now available for Vanguard clients, according to a recent social media post by chief executive officer Hunter Horsley.
Vanguard, the world’s second-largest asset manager with over $11 trillion in assets under management, has long been a conservative powerhouse in traditional investing. It has completely prohibited cryptocurrency-related products on its platform for many years. It even blocked access to spot Bitcoin ETFs when they launched in January 2024.
Over 50 million Vanguard clients will be able to begin trading specific cryptocurrency ETFs and mutual funds that contain cryptocurrency assets. In late September, rumors surfaced that Vanguard would completely reverse its stance on cryptocurrency.
Hence, it did not come as a complete surprise, which explains a rather muted crypto rally. The $10 trillion behemoth still has no intention of following rival Blac despite the significant reversal.
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