Crypto-Sceptic Vanguard Seeks Digital Assets Head To Build In-House Strategy

Malvern, Pennsylvania-based Vanguard, which manages around $12tn in assets, has witnessed a rush by numerous peers, including rival BlackRock, to offer crypto products, with which it competes in passive investment and exchange-traded fund (ETF) offerings.

In a 6 Jul job posting, Vanguard said the head of digital assets would "lead Vanguard Personal Wealth's digital assets strategy, roadmap and enterprise execution," suggesting the hire would not be merely tactical, but would drive the firm's development of in-house expertise in assets it once derided as having "no inherent economic value."

Longer-term strategy

While Vanguard has not committed to rolling out its own token products, it allows some third-party crypto ETFs and mutual funds on its brokerage platform. In December 2025, the world's second-largest asset manager by assets under management (AUM) allowed ETFs and mutual funds holding Bitcoin (BTC), Ether (ETH), XRP and Solana (SOL) to be traded on its platform.

Based on the job ad, the firm is signalling a shift into a longer-term strategy on crypto infrastructure, products and client access. The posting seeks expertise in tokenization, stablecoins, custody, settlement and blockchain-enabled operating models and reflects the firm's response to changing market structure and investor demands.

Two years 'too volatile'

Founded in 1975, the firm is known for low-cost, long-term investing and a cautious stance. In an article posted on 1 Dec 2025, Vanguard wrote: "When it comes to investment products we create, our posture has not changed; we focus on products that generate cash flow in a transparent way, such as interest payments and dividends. At this time, Vanguard has no plans to launch our own cryptocurrency ETFs or mutual funds."

For nearly two years, Vanguard maintained that crypto was "too volatile" for long-term portfolios. That stance has softened following the appointment of CEO Salim Ramji, a former BlackRock executive, who took the helm in July 2024.

$14tn rival, seven others

When the US floodgates opened to crypto exposure through the January 2024 approval of regulated ETFs, asset managers raced to offer digital asset products. Besides BlackRock, which issues the world's largest spot Bitcoin and Ether ETFs by AUM, Fidelity, Franklin Templeton, WisdomTree, Bitwise, Grayscale, Invesco and VanEck all compete for a slice of the crypto products marketplace.

Vanguard isn't the only crypto-wary firm, but its size has made its near-absence palpable. Other traditional managers that have taken a guarded view of digital assets include T. Rowe Price, UBS Wealth Management, Glenmede and PGIM.

Low-cost pioneer

Founded by John C. "Jack" Bogle, Vanguard's claim to fame is inventing the world's first retail index fund and pioneering low-cost, investor-first mutual fund investing. It started the First Index Investment Trust, now called the Vanguard 500 Index Fund, in 1976. This allowed everyday investors to track the entire S&P 500 cheaply, rather than trying to beat the market with expensive stock pickers.

Vanguard offers 227 funds in the US and 231 funds in markets outside the US.