Vanguard Taps Digital Assets Expert Amid Growing Crypto Interests

Vanguard Personal Wealth is expanding its team to include a new role focused on digital assets. According to a spokesperson, the company is continually evaluating emerging technologies such as blockchain and tokenization to ensure its brokerage platform meets evolving industry standards.

This move has been seen as a significant development in the crypto space, with some experts viewing it as a major victory for cryptocurrencies. Balchunas commented on X that 'they're basically the last domino to fall outside of Peter Schiff'.

Jeff DeMaso, editor of The Independent Vanguard Adviser, expressed mixed views on the announcement. While he acknowledged the importance of having a head of digital assets at such a large asset manager, he noted that Vanguard has historically been skeptical of cryptocurrencies, viewing them as speculative rather than investment assets.

With Vanguard already allowing crypto ETFs on its platform and now potentially hiring a head of digital assets, DeMaso is keeping a close eye on the situation. However, he emphasized that he will give Vanguard the benefit of the doubt until it launches a cryptocurrency or digital asset product.