The world’s second-largest asset manager may be rethinking its stance on digital assets.

Vanguard, a company historically known for dismissing cryptocurrencies as speculative, has indicated that it is reviewing its position on crypto-related investment products.

The statement came after growing speculation that Vanguard could eventually follow competitors like BlackRock into the booming spot ETF market.

While the firm emphasized that crypto mutual funds and ETFs are not currently available through its brokerage, it stopped short of ruling them out. Instead, a spokesperson noted that the company is “constantly evaluating” client demand, its investment lineup, and regulatory developments.

Why It Matters

This cautious shift is notable given Vanguard’s long reputation as a stronghold of traditional investment strategies. Unlike rivals that rushed into digital assets after U.S. spot ETFs were approved earlier this year – drawing billions in inflows – Vanguard resisted calls to participate, preferring to stick with its core lineup of index funds and bonds.

By acknowledging that crypto remains on the table, however, Vanguard has opened the door to a possible reversal. The firm stressed that any future decision would be communicated directly to clients, but its wording has fueled speculation that one of the industry’s last holdouts may eventually enter the crypto ETF race.

If it does, Vanguard’s arrival could reshape the competitive landscape, adding enormous credibility to digital asset products that have already attracted significant mainstream attention.