Bitcoin News Today: Vanguard Opens Crypto ETF Access, Bitcoin Rises 7.5%

Vanguard Group, the second-largest asset manager globally, has taken a major step into the crypto market by allowing its clients to invest in cryptocurrency exchange-traded funds (ETFs) for the first time. The firm announced on December 2, 2025, that its brokerage platform would support third-party crypto ETFs, including those tracking Bitcoin, Ethereum, XRP, and Solana. This marks a reversal from its long-held skepticism about digital assets.

The move aligns with a broader industry trend as crypto demand surges and traditional financial institutions adjust to changing investor preferences. Vanguard's decision follows similar initiatives from Charles Schwab, which plans to launch spot crypto trading in 2026, and European banks like BPCE, which is expanding retail crypto access.

Bitcoin prices responded positively to the news, climbing 7.5% on the day to exceed $92,000. The price movement reflected renewed investor confidence in the digital asset, even as it remains down over 30% from its October peak.

Institutional Acceptance of Crypto Grows

Vanguard's entrance into the crypto space signals growing institutional acceptance of digital assets as part of a diversified portfolio. The firm's clients can now purchase products like BlackRock's iShares Bitcoin Trust ETF (IBIT) and other third-party crypto funds through its platform. While Vanguard does not plan to launch its own crypto products, it aims to provide a broader range of investment options for its 50 million clients according to reports.

The decision was driven in part by market demand and competitive pressures. Vanguard had previously blocked access to crypto ETFs, leading to client frustration and account transfers to firms like Fidelity and Schwab. Now, with crypto ETFs available, Vanguard is positioning itself to retain its market share as digital assets become more mainstream according to analysis.

Market Reactions and Analyst Views

Bitcoin's price surge on December 2 coincided with Vanguard's announcement, highlighting the potential market impact of major institutional moves. The price briefly rose above $92,000, but it remains below its peak of $126,000 in October. Analysts note that the average cost basis for U.S. spot Bitcoin ETFs is around $84,000, and a break below that level could trigger more selling.

While some see Vanguard's move as a validation of crypto's legitimacy, others remain cautious. Hunter Rogers of TeraHash argues that Vanguard is not endorsing crypto as a long-term asset class but is instead adapting to client preferences and retaining market share. The firm continues to exclude high-volatility meme coins and has no plans to manage its own crypto products according to market analysis.

Regulatory and Competitive Dynamics

The shift in institutional attitudes toward crypto comes amid a broader regulatory and market evolution. In the U.S., the Trump administration's national security strategy has been criticized for its silence on blockchain and crypto, despite prior statements from the president about wanting to ensure U.S. leadership in the sector. Meanwhile, European banks are expanding crypto offerings to compete with global rivals according to industry reports.

Charles Schwab's planned entry into the crypto market in 2026 adds to the competitive pressure. The firm, which manages over $12 trillion in assets, is testing spot crypto trading with employees and a limited group of clients before a full rollout. Schwab's CEO emphasized the firm's openness to potential crypto-related acquisitions as part of its strategic expansion.

Outlook for the Crypto Market

With major institutions like Vanguard and Schwab entering the crypto space, the market is likely to see increased liquidity and broader adoption. However, challenges remain, including regulatory uncertainty and price volatility. The average cost basis for Bitcoin ETFs remains a key level to watch, and further market corrections could test investor confidence.

In addition to institutional moves, crypto adoption is being driven by technological innovation and infrastructure growth. Ondo Finance's acquisition of an SEC-regulated broker, Ripple's ETF inflows, and the expansion of French bank BPCE's crypto offerings all highlight the maturing landscape.

As the industry continues to evolve, the balance between institutional demand and regulatory scrutiny will shape the future of digital assets. For now, Vanguard's move into the crypto space underscores a pivotal moment in the mainstream acceptance of digital assets, even as questions about their long-term role in portfolios remain.