Investment giant Vanguard may reconsider its stance on cryptocurrencies, having submitted a specialized fund to the U.S. SEC that involves digital currencies

According to Coingape, American investment giant Vanguard Group may be reconsidering its stance on cryptocurrency. The company has applied for a new "Vanguard Specialized Funds" with the U.S. Securities and Exchange Commission (SEC), aiming to track the performance of benchmark indices. In the submitted documents, Vanguard mentioned digital currency and provided some key definitions related to cryptocurrency. Vanguard described "digital currency" as a digital asset that serves as a store of value, medium of exchange or unit of account, further categorizing it as a digital asset not issued or guaranteed by any jurisdiction, central bank or public institution and involves transactions recorded on decentralized networks or distributed ledgers. Additionally, Vanguard also mentioned "digital security tokens" and "digital utility tokens". According to reports submitted to the SEC, Vanguard believes that the value of digital security tokens usually primarily comes from or represents rights in individual assets or pools of assets; while digital utility tokens are described as a type of digital asset that can be used for access specific networks, products or services etc. Previously,Vanguard had expressed an anti-crypto stance with its newly appointed CEO Salim Ramji claiming they would not launch Bitcoin spot exchange-traded funds (ETF).