The world’s second-largest asset management company is set to open Bitcoin ETF trading.

That’s right, it’s Vanguard Group—the same company whose CEO, just last May, publicly questioned the long-term value of Bitcoin and clearly stated they wouldn’t launch related products. Now? In less than a year, their stance has completely reversed.

What’s behind this shift? Seasoned market players know one thing: when an institution goes from staunch opposition to suddenly entering the market, the period in between is often the most intriguing.

Maybe they saw the astonishing capital inflows attracted by a leading exchange’s ETF products? Maybe they had already completed their internal preparations? The exact reasons are unknown to us. But one thing is clear—when a traditional financial giant managing trillions of dollars starts to take action, that signal alone says a lot.

From resistance to embrace, the speed at which traditional financial institutions are changing their attitude is faster than imagined. The entry of the second-largest asset management company not only brings potential capital inflows, but also serves as a confirmation of a trend: crypto assets are moving from the margins to the core of the mainstream financial system.

Every move these Wall Street veterans make is worth close attention. After all, when an elephant starts to turn, it often means the entire landscape of the room is about to change.