Vanguard is reportedly weighing letting U.S. brokerage customers access third‑party crypto ETFs, a sharp departure from its previous hostility to crypto exposure.

Vanguard is reportedly weighing letting U.S. brokerage customers access third‑party crypto ETFs, a sharp departure from its previous hostility to crypto exposure.

What’s new

• Multiple outlets on September 26–27, 2025 are saying Vanguard is in exploratory talks to enable access to select third‑party crypto ETFs for its brokerage clients. “Methodical” is the adjective used: they’re testing the waters.  
• Importantly, this would not (at least initially) involve Vanguard launching its own crypto ETFs — the shift is about platform access, not internal product development.  
• There’s no timeline, no decision, and no guarantee this move will happen.  

Why this matters (especially versus past posture)

• In February 2024, Reuters reported that Vanguard was not offering spot bitcoin ETFs on its platform, underscoring just how strong its resistance has been.  
• More explicitly, in January 2024 Vanguard confirmed that “spot bitcoin ETFs will not be available for purchase on the Vanguard platform.”  
• That stance aligned with how Vanguard has traditionally framed its strategy: focus on long-term, low-volatility investments, steering clear of what it sees as speculative or nascent asset classes.  
• But the environment has shifted: regulatory reforms to streamline crypto‑ETF approvals, rising inflows into spot Bitcoin/Ethereum ETFs, and competitive pressure from firms already offering access are pushing institutions to reconsider.  

If this shift goes through, it could redraw the lines in how “traditional finance” treats crypto — Vanguards’s entrance (even via third‑party access) would carry symbolic weight. Do you want me to dig into which ETFs Vanguard might allow, or assess how much this could change flows in crypto markets?