The price of Bitcoin has rebounded to $86,000, with its daily decline’s tail sharpening further. This development, eagerly awaited by cryptocurrency investors, had largely been regarded as a rumor until Bloomberg recently confirmed it.
Latest Updates on Cryptocurrencies
Vanguard, the world’s second-largest asset manager, will allow its customers access to cryptocurrency investment products starting tomorrow. BlackRock and Vanguard, being global giants, enabling crypto asset access could invigorate market liquidity once again. Just two years ago, Vanguard had dismissed the idea of recommending such investments to their clients.
Today, however, the allure of high volatility and long-term growth potential makes access to Bitcoin and crypto ETFs viable. Serving millions of customers across over 170 countries, this company manages assets valued over $10 trillion. As the issuer of the world’s largest ETFs, Vanguard might proceed with direct BTC or ETH ETF offerings following this step. Its S&P 500 ETF alone stands at a staggering size of $818 billion, and its Total Stock Market ETF holds half a trillion, marking Vanguard as a significant ETF player. Hence, the world’s second-largest asset manager entering the crypto realm is indeed substantial.
Impact on the Investment Landscape
Charles Schwab, among the top three asset management firms and serving 30 million clients, plans to enter the market by 2026. Combined with Vanguard’s 50 million users, access to cryptocurrencies for almost all investors globally is becoming a reality.
In the short term, this news might create a positive impact, but the crucial factor is the volume of investments it will attract. The ETF flow tomorrow will be of significant importance.