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Morning Minute: Vanguard Flirts With Crypto

Vanguard, the world’s second-largest asset manager, is reportedly considering offering crypto ETFs to its U.S. clients, a significant shift from its previous stance of blocking spot Bitcoin ETFs on its platform. The decision comes in response to client demand and the competitive landscape, as many major peers already facilitate crypto trading. With approximately $10 trillion in assets under management and over 50 million investors, Vanguard’s entry into crypto could significantly impact market liquidity. The CEO, Salim Ramji, who previously oversaw the successful launch of BlackRock's Bitcoin ETF, indicates a methodical approach to navigating the changing dynamics since 2024. If adopted, this move could result in substantial continuous inflows into major crypto assets, deeper market liquidity, and broader accessibility for retirement accounts, marking a notable validation for cryptocurrencies in long-term investment portfolios. Furthermore, recent rallying of major cryptocurrencies, including Bitcoin, highlights an upcoming potential crypto boom cycle.

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