Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.
GM!
Today’s top news:
* Crypto majors rally over the weekend; BTC reclaims $112,000
* Vanguard reportedly considering offering crypto ETF access to its 50M investors
* SEC and FINRA investigating DATs for insider trading
* Tether is reportedly raising at a $500B valuation; XPL at $13B after first days of trading
* Hypurr NFTs open at $65k floor on $60M+ in their first day of trading
🛡️ Vanguard Flirts With Crypto
The world’s second-largest asset manager is considering letting its U.S. clients buy crypto ETFs.
The final walls are falling down.
📌 What Happened
Last week, Crypto in America reported that Vanguard is weighing access to select spot crypto ETFs for brokerage customers.
This is a sharp departure from its 2024 stance, when it blocked spot Bitcoin ETFs on-platform.
There’s no final decision or product list yet; the discussions reflect persistent client demand and the competitive reality that most major peers already enable trading.
Notably, Vanguard’s CEO Salim Ramji was previously at BlackRock and oversaw the launch of their Bitcoin ETF IBIT, one of the most successful ETF launches of all time.
For asset context, Vanguard today oversees ~$10T in AUM and serves more than 50 million investors globally, so even a cautious rollout would be consequential for ETF liquidity.
🗣️ What They’re Saying
“They’re being very methodical in their approach, understanding the dynamics have been changing since 2024.” – source talking to Crypto in America
“Vanguard, the 2nd largest asset manager in the world, is finally planning to allow clients to invest in crypto ETFs on their platform. By waiting this long, they have “protected” clients from +150% gains on $BTC since the ETFs went live.” – Satoshi Stacker on X
🧠 Why It Matters
If Vanguard enables crypto ETF access, even with tight guardrails, it adds a massive set of ongoing inflows into crypto majors.
That means deeper secondary-market liquidity, broader retirement-account penetration, and more “default” exposure from set-it-and-forget-it investors who previously had to move assets elsewhere.
Just 1% of $11T is $110B in inflows (and likely a major up-front portfolio rebalance adjustment).
That’s massive.
It also marks a symbolic validation: the firm that once said “not appropriate for long-term portfolios” would be acknowledging a durable role for crypto alongside stocks and bonds.
