NewsletterCrypto ETF News: Vanguard to Enable Trading of BTC, XRP, SOL ETF on Its Platform
Highlights
- Vanguard will allow trading of crypto ETFs starting December 2.
- The funds includes BTC, ETH, XRP, and SOL products.
- The firm said it will not issue its own crypto ETFs, and products tied to memecoins be banned.
Vanguard will be opening its platform to a variety of crypto ETF products. The firm shared it would support trading for BTC, ETH, XRP, and SOL from December 2.
Vanguard Opens Crypto ETF Access For Investors
According to Bloomberg, Vanguard Group has confirmed it will now permit trading of ETFs and mutual funds that hold crypto directly. Investors on the platform will be able to trade products tied to Bitcoin, Ethereum, XRP, and Solana starting Tuesday.
It also represents a change from the firm’s previous stance that digital assets were too risky for long-term allocation
This even comes after more than $1 trillion was wiped out of the crypto market since early October. Despite this drop, interest in regulated crypto products is still growing quickly in the U.S. fund industry.
In September, Vanguard shared plans to offer access to crypto ETF products to its brokerage clients.
Andrew Kadjeski, head of brokerage and investments at Vanguard, said that the infrastructure supporting these products has matured significantly over time.
“Crypto ETFs and mutual funds have been tested through periods of market volatility,” he said. “The administrative processes to service these types of funds have matured, and investor preferences continue to evolve.”
Experts say this move is because of Salim Ramji, the firm’s relatively new CEO and a blockchain supporter. Since he took charge, he has led a number of strategic adjustments to align the firm with investor preferences.
Despite this policy shift, the company has made it clear it won’t create internal crypto products. They still see digital assets as speculative and any funds linked to memecoins remain banned on its platform.
“We serve millions of investors with different goals and risk profiles, and our focus is on giving clients access…not becoming an issuer of crypto products ourselves,” Kadjeski said.
Institutions Adjust Platforms To Meet Crypto Funds Demand
That said, platforms have begun to unveil more options to satisfy investors’ needs. For example, the CME Group announced that new spot-quoted futures for XRP and Solana would go live on December 15.
They said the decision was due to the growing institutional interest in the two assets. It also promises that the two new futures will have better price tracking and more advanced hedging.
In the meantime, Grayscale launched options trading of its Solana Trust ETF, GSOL. According to the company, the options launch is targeted at traders seeking more flexibility in managing exposure amid increased volatility.
Also, JPMorgan filed to introduce structured notes linked to BlackRock’s Bitcoin ETF (IBIT). The fund has the potential for up to 16% gains depending on performance conditions.
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