PANews reported on March 31 that according to Bitcoin.com, financial giant Vanguard Group may soon be indirectly exposed to Bitcoin through its GameStop shares, marking an unexpected turn in the company's traditionally cautious attitude towards cryptocurrencies. This development follows a series of moves by GameStop, of which Vanguard Group is one of the largest shareholders.
Vanguard is currently the largest institutional shareholder of GameStop. This shareholding relationship has attracted widespread attention after GameStop announced its shift to Bitcoin strategy. On March 26, Ryan Rasmussen, head of research at asset management company Bitwise, posted on social media platform X: "Vanguard bought Bitcoin through GameStop, which is incredible." This comment highlights the peculiarity of the event, as Vanguard has long avoided direct involvement in crypto assets. Rasmussen's comments were in response to Matt Hougan, chief investment officer of Bitwise, who pointed out that Vanguard is the largest shareholder of GameStop.
Vanguard's indirect involvement in Bitcoin through GameStop is in stark contrast to its consistent stance on digital assets. Although asset management companies such as BlackRock and Fidelity have embraced cryptocurrencies by launching Bitcoin and Ethereum spot ETFs, Vanguard has chosen to stay out of it. In December 2024, Vanguard reiterated its anti-Bitcoin stance, saying that digital assets are speculative and lack intrinsic value.
