Once, Vanguard firmly stated that it would not venture into the Bitcoin space. Their former CEO described Bitcoin as "too volatile, not a store of value," "highly speculative, difficult to see long-term returns," and "artificially scarce." As the largest Crypto Assets detractor, Vanguard has maintained a steadfast position.

However, the situation seems to have undergone a dramatic change today. This giant managing $11 trillion in assets may be preparing to allow access to Crypto Assets ETFs on its brokerage platform. The irony of this shift is that, due to index investment strategies, Wind Information has been the second largest holder of Strategy. More interestingly, their new CEO Salim Ramji is a 10-year veteran of BlackRock, who was involved in the launch of IBIT, which has attracted over $60 billion in net inflows since January 2024.

Unlike the early moves of BlackRock or Fidelity, Wind's transition is more symbolic. As one of the most stubborn opponents, Wind's change in attitude will undoubtedly have a huge impact. From "never getting involved in Crypto Assets" to now mentioning in rumors and statements that "we are continuously evaluating our brokerage business, investor preferences, and the evolving regulatory environment," this shift is one of the most dramatic U-turns in traditional finance.

Although Bitcoin does not necessarily need Wande, Wande seems to need Bitcoin more and more. This change not only reflects the maturity of the crypto assets market but also highlights the adaptability of traditional financial institutions in the face of emerging financial technologies. With the gradual clarification of the regulatory environment and the growing demand from institutional investors, we may see more financial giants like Wande joining the crypto assets camp.