Vanguard opens search for digital assets leader in sign of evolving crypto strategy

Vanguard has opened the search for a head of digital assets, creating a senior role that would oversee the firm's strategy for cryptocurrencies and blockchain-based financial technology.

The position, listed within Vanguard Personal Wealth, calls for an executive to develop the firm's digital asset vision, identify business opportunities and lead execution across product, technology, operations, legal and compliance teams. The candidate will also advise senior leadership on changes in digital asset markets, represent Vanguard in discussions with regulators and industry groups and help shape the firm's long-term approach.

It also highlights other areas of the ecosystem, including tokenization, stablecoins, digital wallets, custody, blockchain-enabled settlement and operating models as areas the executive will evaluate, as well as determining whether Vanguard should build new capabilities internally, partner with third parties or delay entering certain parts of the market.

The search marks another step in Vanguard's gradual shift toward digital assets after years of resisting the sector. The asset manager, which oversees roughly $10 trillion, remained one of crypto's largest institutional skeptics while peers such as BlackRock, Fidelity and Franklin Templeton rolled out spot bitcoin ETFs and other blockchain initiatives.

That stance began to soften in December, when Vanguard started allowing brokerage clients to trade cryptocurrency ETFs and mutual funds. The company maintained that it had no plans to issue its own crypto investment products, arguing that digital assets remained inconsistent with its long-term investment philosophy.

That position was potentially reinforced by CEO Salim Ramji, who joined Vanguard from BlackRock in July 2024 after leading the firm's iShares business, which launched one of the largest spot bitcoin ETFs, the iShares Bitcoin ETF (IBIT.) Speaking to Barron's before taking over as CEO, Ramji said Vanguard's decision not to offer its own bitcoin ETF was "entirely consistent" with the firm's investment philosophy, adding that it was important for firms to remain consistent in the products and services they offer.

While the new job posting does not signal an imminent product launch, it broadens Vanguard's focus beyond simply offering access to third-party funds. The executive will be responsible for building a multi-year roadmap, designing governance and risk frameworks and assessing how digital assets could fit within Vanguard's broader wealth management business.

Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.

Disclosure & Polices : CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies . CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of Bullish (NYSE:BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services. Bullish owns and invests in digital asset businesses and digital assets and CoinDesk employees, including journalists, may receive Bullish equity-based compensation.

新闻图片