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  • Vanguard reverses course, opens door to Bitcoin, Ethereum, XRP, and Solana ETFs

    Vanguard reverses course, opens door to Bitcoin, Ethereum, XRP, and Solana ETFs

    Vanguard opens door to Bitcoin, Ethereum, XRP, and Solana ETFs

    • Vanguard now allows clients to trade Bitcoin, Ethereum, XRP, and Solana ETFs.
    • XRP ETFs have seen $756M inflows in 11 days, with no outflows recorded.
    • Goldman and other firms are boosting crypto exposure alongside Vanguard.

    In a dramatic shift that signals growing acceptance of digital assets by mainstream finance, Vanguard has opened its brokerage platform to regulated crypto ETFs.

    Starting this week, US investors can access exchange-traded funds tied to Bitcoin, Ethereum, XRP, and Solana, marking a major reversal from the firm’s long-held resistance to cryptocurrency.

    Notably, the move comes amid surging client demand and increasing institutional interest in digital assets, reshaping Vanguard’s traditional investment philosophy.

    Vanguard finally embraces crypto

    For years, Vanguard maintained a cautious stance toward cryptocurrencies, with former CEO Tim Buckley publicly dismissing BTC and other digital assets as too speculative and unsuitable for long-term portfolios.

    The firm consistently refused to offer crypto ETFs, emphasising stability and low-risk investments for retirement-focused clients.

    However, leadership changes paved the way for a rethink.

    Salim Ramji, formerly the global head of ETFs at BlackRock, assumed the CEO role and gradually steered Vanguard toward regulated crypto offerings.

    While the firm still will not create its own crypto ETFs or mutual funds, it now supports third-party products that meet regulatory standards, providing clients with access to digital assets while maintaining compliance.

    The platform expansion enables more than 50 million US brokerage clients to trade crypto ETFs alongside other non-core assets like gold.

    This could significantly increase market participation, with some predicting near-term price boosts in Bitcoin (BTC) and Ethereum (ETH).

    Vanguard’s inclusion of XRP ETFs

    Among the new offerings, XRP-based ETFs have generated particular excitement.

    In just 11 trading days, spot XRP ETFs have recorded net inflows exceeding $756 million, with total assets under management reaching $723 million.

    Remarkably, there have been no outflows, and major inflow events include $243 million during Canary Capital’s launch, $164 million tied to Grayscale and Franklin Templeton ETFs, and $89.65 million in the most recent session.

    This rapid accumulation is reducing the liquid XRP supply on exchanges, potentially creating a supply shock that could influence pricing.

    Mainstream finance accelerates crypto adoption

    Vanguard’s pivot reflects a broader trend among traditional financial institutions embracing crypto.

    Goldman Sachs, for example, is deepening its exposure through a $2 billion acquisition of Innovator Capital Management, which issues defined-outcome ETFs, including Bitcoin-linked structured funds.

    The bank has rapidly increased its holdings in Bitcoin and Ethereum ETFs, totalling billions in assets, while also developing infrastructure for tokenised financial products.

    Industry observers view these moves as part of a gradual yet significant integration of digital assets into mainstream portfolios, indicating that regulated, institutionally backed crypto investment is shifting from a niche to a standard.

    The implications of Vanguard’s decision extend beyond immediate market activity.

    By allowing access to regulated crypto ETFs, the firm is providing a channel for both retail and institutional investors to participate in digital asset markets within a familiar, compliant framework.

    This could draw additional inflows, potentially reshaping liquidity dynamics and market sentiment across Bitcoin, Ethereum, XRP, and Solana.

    For Vanguard, the shift represents not only a strategic response to client demand but also an acknowledgement that digital assets have become a permanent fixture in the global financial landscape.

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  • BlackRock brings Bitcoin ETP to UK as regulator opens door for crypto products

    BlackRock brings Bitcoin ETP to UK as regulator opens door for crypto products

    BlackRock brings bitcoin ETP to UK as regulator opens door for crypto products

    • ETP mirrors bitcoin price and trades via the London Stock Exchange.
    • UK aims to become a global hub for regulated digital-asset products.
    • FCA allows tokenisation of investment funds using blockchain technology.

    The investment giant BlackRock has launched its first bitcoin-linked exchange-traded product (ETP) in the United Kingdom, signalling a major step in bridging traditional finance with the crypto sector.

    The move follows the Financial Conduct Authority’s (FCA) decision to ease restrictions on crypto investment vehicles, allowing investors to gain exposure to bitcoin without directly holding it.

    The launch not only widens access to digital assets for UK investors but also highlights a growing convergence between global asset managers and regulators in adapting to the evolution of financial markets.

    BlackRock’s bitcoin ETP debuts on the London Stock Exchange

    The iShares Bitcoin ETP, now listed on the London Stock Exchange, is designed to mirror the price of bitcoin and offer exposure within a regulated structure.

    The product allows investors to buy fractions of bitcoin through units starting at about $11, making participation in the asset class more accessible.

    Unlike holding bitcoin directly, investors can trade the ETP through standard brokerage accounts, bypassing the complexities of digital wallets or private key management.

    The product’s underlying assets are securely held by regulated custodians, ensuring compliance and oversight under the UK’s financial rules.

    BlackRock’s UK-listed ETP builds on the firm’s earlier success with its bitcoin exchange-traded fund (ETF) in the United States, which has accumulated over $85 billion in net assets.

    It also adds to its European range, complementing listings in Switzerland, Paris, Amsterdam, and Frankfurt.

    FCA’s easing of crypto investment restrictions

    The launch comes shortly after the FCA lifted its four-year ban on crypto exchange-traded notes (ETNs) on 9 October 2025.

    The regulator stated that UK investors could now access such products through approved exchanges, reflecting a broader acceptance of crypto-linked investment options.

    The decision marks a turning point for crypto regulation in the UK.

    It suggests a shift from outright restrictions to a more measured approach that balances investor protection with innovation.

    The FCA’s announcement followed months of consultation with industry players and international regulators.

    Expanding opportunities for asset managers and investors

    BlackRock’s move is expected to encourage other global asset managers to follow suit, as the UK repositions itself as a hub for financial innovation post-Brexit.

    The FCA’s approval has opened the door for firms such as VanEck, DWS, and WisdomTree to explore similar launches.

    For retail investors, the product offers exposure to bitcoin’s price movements through a traditional investment wrapper.

    It eliminates the need for managing crypto wallets and navigating unregulated exchanges, while allowing investment through familiar platforms.

    The regulator’s decision also aligns with the UK Treasury’s ambition to make the country a global centre for digital assets.

    It supports ongoing efforts to integrate blockchain into traditional finance, paving the way for tokenised funds and blockchain-based asset management in the future.

    Crypto risks and the future of tokenisation in the UK

    Despite the easing of rules, the FCA maintained that its ban on crypto derivatives for retail investors will remain.

    While the ETP operates under a regulated structure, exposure to Bitcoin still carries the same volatility and market risks associated with the underlying asset.

    In parallel, the UK is exploring broader blockchain adoption across financial services.

    On 14 October 2025, the FCA announced new provisions allowing asset managers to use distributed ledger technology for fund tokenisation.

    The move is intended to foster innovation and efficiency, signalling that the regulator sees long-term potential in blockchain applications beyond cryptocurrencies.

    By facilitating regulated access to bitcoin and promoting tokenisation, the UK is gradually laying the groundwork for a digital financial ecosystem where traditional and decentralised finance coexist.

    BlackRock’s ETP marks a key milestone in this transition, setting the stage for more institutional crypto products in one of the world’s leading financial markets.

     

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