On March 31st, financial giant Vanguard Group may soon reach out to bitcoin indirectly through its stake in GameStop, marking an unexpected turn in the company's traditionally cautious approach to cryptocurrencies. The development follows a series of moves by GameStop, of which Vanguard Group is one of the largest shareholders. Vanguard is currently GameStop's largest institutional shareholder. The shareholding relationship has attracted widespread attention after GameStop announced its shift to a Bitcoin strategy. On March 26, Ryan Rasmussen, head of research at asset manager Bitwise, posted on social media platform X: "It's incredible that Vanguard is buying Bitcoin through GameStop". The comment underscores the particularity of the incident, as Vanguard has long avoided direct exposure to crypto assets. Rasmussen's comments were in response to Bitwise Chief Investment Officer Matt Hougan, who noted that Vanguard is GameStop's largest shareholder. Vanguard's indirect foray into bitcoin via GameStop stands in stark contrast to its traditional stance on digital assets. While asset managers such as BlackRock and Fidelity have embraced cryptocurrencies by launching bitcoin and ethereum spot ETFs, Vanguard has chosen to stay out. In December 2024, Vanguard reiterated its anti-bitcoin stance, saying digital assets were speculative and lacked intrinsic value.