Vanguard, one of the largest asset managers with $10 trillion in assets, has avoided entering the cryptocurrency market while competitors like BlackRock embrace it. BlackRock's iShares Bitcoin Trust has seen rapid growth, managing nearly $69 billion. Despite the rising interest in crypto, including spot bitcoin ETFs and growing client demand, Vanguard's representatives stated that crypto ETFs do not align with their investment philosophy. This choice contrasts with many traditional finance firms that have begun exploring the crypto space, including Fidelity, Morgan Stanley, and State Street Global Advisors. Analysts suggest Vanguard's refusal to engage with crypto is puzzling, particularly given its history of embracing financial innovations. Observers believe Vanguard may eventually offer crypto ETFs to keep pace with consumer demand, especially considering CEO Salim Ramji's previous experience with BlackRock's successful entry into the market. The article highlights the potential for Vanguard to revise its stance as competition intensifies and investor interest in cryptocurrencies grows.

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