Vanguard Seeks Digital Assets Chief as It Broadens Crypto Strategy

Vanguard has launched a search for a head of digital assets, creating a senior post to steer the firm's approach to cryptocurrencies and blockchain-based financial technology. Listed under Vanguard Personal Wealth, the role calls for an executive to set the company's digital-asset vision, identify commercial opportunities and drive execution across product, technology, operations, legal and compliance. The hire would also brief top leadership on shifts in digital-asset markets, represent Vanguard in conversations with regulators and industry bodies, and help shape the firm's long-term positioning. The posting points to a broad remit across the ecosystem, including tokenization, stablecoins, digital wallets, custody, blockchain-enabled settlement and operating models. The executive would evaluate where Vanguard should build capabilities in-house, rely on third-party partners or hold off on entering certain segments. The search underscores Vanguard's incremental move toward digital assets after years of resistance. The asset manager, which oversees about $10 trillion, has been among the more prominent institutional skeptics even as peers such as BlackRock, Fidelity and Franklin Templeton launched spot bitcoin ETFs and other blockchain initiatives. That posture began to ease in December, when Vanguard started allowing brokerage clients to trade cryptocurrency ETFs and mutual funds. The firm has said it does not plan to issue its own crypto investment products, arguing digital assets do not align with its long-term investment philosophy. CEO Salim Ramji's comments have echoed that view. Ramji joined Vanguard from BlackRock in July 2024 after leading iShares, which launched one of the largest spot bitcoin ETFs, the iShares Bitcoin ETF (IBIT). In remarks to Barron's before becoming CEO, he said Vanguard's decision not to offer its own bitcoin ETF was "entirely consistent" with the firm's philosophy and emphasized the importance of consistency in products and services. While the new posting does not point to an imminent product launch, it signals a broader push beyond simply providing access to third-party funds. The executive would be tasked with building a multi-year roadmap, designing governance and risk frameworks, and assessing how digital assets could fit within Vanguard's wider wealth management business.