On March 31, it was reported that financial giant Vanguard Group may soon have indirect access to Bitcoin through its GameStop stake, marking an unexpected turning point in the company's traditional cautious attitude towards cryptocurrencies. This development follows a series of initiatives by GameStop, whose Vanguard Group is one of the largest shareholders. Vanguard is currently GameStop's largest institutional shareholder. After GameStop announced its shift to Bitcoin strategy, this shareholding relationship attracted widespread attention. On March 26, Ryan Rasmussen, head of research at asset management firm Bitwise, posted on social media platform X: "It's unbelievable that Vanguard bought Bitcoin through GameStop." The comment highlighted the uniqueness of the incident, as Vanguard has long avoided getting involved directly in crypto assets. Rasmussen's comments were in response to Matt Hougan, Bitwise's chief investment officer, who pointed out that Vanguard is GameStop's largest shareholder. Vanguard's indirect involvement in Bitcoin through GameStop is in sharp contrast to its consistent stance on digital assets. Although asset management companies such as BlackRock and Fidelity have embraced cryptocurrencies by launching Bitcoin and Ethereum spot ETFs, Vanguard has chosen to stay out of it. In December 2024, Vanguard reiterated its anti-Bitcoin stance, saying digital assets are speculative and lack intrinsic value.