Vanguard finally dips a toe into crypto waters after bitcoin slump
By Steve GoldsteinETFs holding bitcoin can now be purchased on Vanguard.Vanguard on Tuesday for the first time started letting clients buy crypto exchange-traded funds managed by third parties.The news, first reported by Bloomberg, was confirmed on its website on Tuesday where investors could buy products like BlackRock's iShares Bitcoin Trust ETF IBIT.ETFs tied to other cryptos including Ethereum and Ripple also were available.The Bloomberg report quoted Vanguard's head of brokerage and investments as saying crypto ETFs and mutual funds have performed as designed through periods of market volatility, though the Malvern, Pa. firm still has no plans to manage its own crypto products.Bitcoin (BTCUSD) climbed over 1% on Tuesday though the lead cryptocurrency has slumped 31% from its record high in October.-Steve GoldsteinThis content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.