Vanguard, the $11 trillion asset manager that famously barred clients from spot Bitcoin ETFs, is reversing course. The firm has posted its first-ever Head of Digital Assets role, signaling a major strategic shift.
The job listing calls for an executive to build a multi-year roadmap covering tokenization, stablecoins, custody, and blockchain settlement. This marks a stark departure for the most crypto-skeptical name in traditional finance, which previously called Bitcoin an "immature asset class."
The move follows the firm's decision last December to allow brokerage clients to trade third-party crypto funds. It is the latest sign that institutional adoption is now fully underway.
In other market news, crypto prices fell 2-5% after U.S. strikes on Iran ended a ceasefire. Bitcoin traded at $62,000. The SEC plans to introduce its long-awaited crypto rules, a "Regulation Crypto" proposal, as soon as this month.
Zcash jumped over 10% on progress with its Project Tachyon upgrade. Developers are close to formally proving its new "Ironwood" shielded pool is free of the counterfeiting vulnerabilities that plagued the protocol earlier this year.