Analysis: Financial giant Vanguard Group may indirectly get involved in cryptocurrencies through GameStop Bitcoin reserves

PANews March 31 news, according to Bitcoin.com, financial giant Vanguard Group may soon have indirect exposure to Bitcoin through its shares in GameStop, marking an unexpected twist in the company's traditional cautious attitude towards cryptocurrencies. This development follows a series of initiatives from GameStop, which is one of GameStop's largest shareholders.

Vanguard is currently the largest institutional shareholder of GameStop. The shareholding relationship has attracted widespread attention after GameStop announced its turn to the Bitcoin strategy. On March 26, Ryan Rasmussen, head of research at asset management company Bitwise, posted on social media platform X, saying: "Vanguard bought Bitcoin through GameStop, which is incredible." This comment highlights the particularity of the incident, as Vanguard has long avoided direct involvement in crypto assets. Rasmussen's comments were in response to Bitwise's chief investment officer Matt Hougan, who pointed out that Vanguard is the largest shareholder of GameStop.

Vanguard's indirect entry into Bitcoin through GameStop is in stark contrast to its usual digital asset stance. 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 anti-bitcoin stance, saying that digital assets are speculative and lack intrinsic value.