Vanguard’s New Crypto Plans Under CEO Salim Ramji Put Bitcoin Funds on Equal Footing

Vanguard has reversed its long-standing opposition to digital assets, officially opening its brokerage platform to crypto-focused ETFs and mutual funds for the first time. Starting Tuesday, customers will be able to trade products tied to Bitcoin, Ethereum, XRP, and Solana—marking a major shift for the $11 trillion asset manager.

This policy change places crypto exposure alongside other non-core assets Vanguard already supports, such as gold. According to Bloomberg, the decision comes after an extended internal review and continued demand from clients—even after the crypto market’s steep pullback.

The timing is notable: the U.S. industry’s 11 spot Bitcoin ETFs, launched in early 2024, saw explosive growth, amassing roughly $25 billion in their first month and eventually ballooning to about $125 billion under two years. Vanguard’s earlier refusal to offer access kept the firm on the sidelines while competitors absorbed historic inflows.

BlackRock’s iShares Bitcoin Trust (IBIT) dominates that landscape, currently holding around $70 billion after peaking near $99.5 billion. Though crypto still represents a tiny sliver of BlackRock’s $13.5 trillion AUM, Vanguard—now led by former BlackRock executive Salim Ramji—commands its own massive $11 trillion footprint.

Ramji’s arrival in July 2024 marked a break from company tradition: it was reportedly the first time Vanguard hired an outsider as CEO. Unlike former chief Tim Buckley, Ramji has been openly supportive of Bitcoin and blockchain, and he previously oversaw the filing and operational rollout of IBIT while at BlackRock.

His leadership is widely seen as a catalyst for this strategic pivot, signaling a new era in which Vanguard is no longer content to sit out the crypto ETF boom—and where digital assets finally sit beside traditional investment choices for tens of millions of investors.