One of the most conservative asset management platforms in the world—Vanguard—finally announced an unexpected decision in January 2026: officially opening spot Bitcoin and Ethereum ETF trading to 50 million brokerage account clients. How significant is this shift? Industry analysts estimate that with this giant and US banks successively allowing such products, the capital inflow into crypto ETFs this year could surpass $180 billion.

To be honest, this is not just about opening trading permissions. Vanguard’s concession marks the collapse of the last bastion of traditional finance. Once this $11 trillion asset management platform incorporates crypto assets into mainstream allocations, the entire market’s nature will change—BTC will no longer be seen as a "speculative asset" but will gain an institutional-grade compliant status akin to retirement funds.

The most immediate impact will be on capital. If just 1% of assets managed by Vanguard shift into crypto, the scale will immediately double. This will provide a structural bottom support for Bitcoin and also alter the distribution pattern of holders. But on the flip side? In the event of a macroeconomic recession, these conservative funds could also withdraw rapidly. This is the double-edged sword of the ETF era—high liquidity but also high emotional volatility.