Vanguard and BofA widen Bitcoin ETF access as FDIC begins GENIUS bank stablecoin rules toward 2026

In early January, Vanguard’s policy reversal and Bank of America’s new crypto guidance open spot Bitcoin ETF access to tens of millions of retail and wealth-management clients. At the same time, a Dec. 16 FDIC proposed rule under the GENIUS Act starts a 12–18 month path toward bank-issued payment stablecoins that may reach public chains by late 2026. This alignment of new distribution channels and a long-dated stablecoin framework could shape Bitcoin flows far differently in the first quarter than at the end of 2025.