According to Bitcoin.com, financial giant Vanguard Group may soon indirectly enter into Bitcoin through its GameStop stake, marking an unexpected turn in the company's traditional cautious attitude towards cryptocurrencies. This development follows a series of measures taken by GameStop, and Vanguard Group is one of GameStop's largest shareholders.
Vanguard is currently the largest institutional shareholder of GameStop. After GameStop announced its shift towards Bitcoin strategy, this shareholding relationship has attracted widespread attention. On March 26th, Ryan Rasmussen, head of research at asset management company Bitwise, posted on social media platform X, saying, "It's unbelievable that Vanguard bought Bitcoin through GameStop. This comment highlights the uniqueness of the event, as Vanguard has long avoided direct involvement in cryptocurrency assets. Rasmussen's comment is a response to Bitwise Chief Investment Officer Matt Hougan, who pointed out that Vanguard is GameStop's largest shareholder.
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 still chooses to stay out of the matter. In December 2024, Vanguard reiterated its inverse stance on Bitcoin, stating that digital assets are speculative and lack intrinsic value.
