Vanguard Quietly Expands Bitcoin Exposure Through MicroStrategy Shares

Vanguard is increasing its “Bitcoin by proxy” exposure. According to recent reports by Bitcoi Treasuries, the company invested $11.2 million worth of MicroStrategy shares (MSTR), now holding close to half a billion dollars in the company’s shares. 

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Vanguard's $11.2 million increase in MicroStrategy shares was made via its Information Technology Index Fund (VGT). The fund now holds a total of $489 million worth of MSTR shares, making it one of the largest shareholders in the market. Vanguard began buying MSTR shares earlier this year, and by the looks of it, will continue to expand its position gradually.

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The recent market turn also affected MicroStrategy shares. The asset only recently flipped bearish on a year-to-date basis, following Bitcoin's poor performance in October. Still, MSTR holds a yearly profit of 27.8% since October 2024.

MicroStrategy is by far the leading Bitcoin treasury firm in the world. It holds a total of 640,031 BTC, worth nearly $70 billion. It began buying $BTC in August 2020, and today it holds more than all the top-10 Bitcoin treasuries combined. 

As for Vanguard, the fund manager with over $10.4 trillion in assets under management has historically been opposed to Bitcoin exposure. Often deeming Bitcoin and other digital assets as "overly volatile", the fund manager has been slowly catering to investor demand for crypto exposure. 

Earlier this month, we reported how Vanguard is considering giving crypto ETF access to its clients, due to the strong investor demand these exchange-traded funds have generated in recent quarters.