Vanguard, known for leading movements, finally allows some mainstream crypto ETFs on its platform. This follows Morgan Stanley’s decision in October to expand crypto access to all clients. Bank of America also recommends 1-4% allocation to Bitcoin ETFs for wealth management clients.

Vanguard’s CEO, Salim Ramji, credited for the change, acknowledges high demand for Bitcoin ETFs. The company urges caution but states that these products have been tested in market volatility. The funds are available in brokerage accounts, with no access for defined-contribution plan participants outside brokerage windows.

Bitcoin prices have been volatile, dropping from over $124,000 in October to about $92,000 currently. Despite this, the iShares Bitcoin Trust ETF saw a decrease in assets under management, but remains a significant revenue driver for BlackRock. Famed investor Michael Burry recently stated that crypto is essentially worthless, likening Bitcoin’s rise to the Dutch tulip bubble.

Vanguard’s decision to offer crypto ETFs to its 50 million clients comes at a time when prices are 30% below all-time highs. While some see this as an opportunity for profits, others caution that access to crypto doesn’t equate to an investment plan. Not everyone may benefit from owning crypto assets.

Read more at Yahoo Finance: Vanguard Raises White Flag Over Crypto ETFs