Vanguard, one of the world's largest asset managers with roughly $11 trillion in assets under management, will begin allowing customers to trade cryptocurrency ETFs and mutual funds on its brokerage platform starting Tuesday, according to Bloomberg.

"Cryptocurrency ETFs and mutual funds have been tested through periods of market volatility, performing as designed while maintaining liquidity," Andrew Kadjeski, Vanguard's head of brokerage and investments, told Bloomberg. "The administrative processes to service these types of funds have matured; and investor preferences continue to evolve."

Vanguard said it will support most crypto ETFs and mutual funds that meet regulatory standards, similar to how it treats gold and other niche asset classes, the story said. Funds tied to memecoins or unsupported by the SEC will remain barred.

The firm added that it has no current plans to launch its own crypto products, according to the report.

The move gives Vanguard's 50 million clients access to regulated crypto funds like those from rival asset manager BlackRock. Crypto ETFs have become a key gateway for U.S. investors to gain exposure to digital assets. Spot bitcoin BTC$86,710.99 ETFs mushroomed to almost $120 billion in assets under management since the January 2024 debut, while ether ETH$2,807.16 vehicles swelled to nearly $20 billion, SoSoValue data shows.

Read more: Bitcoin ETFs Are Now BlackRock’s Top Revenue Source, Exec Says