The Vanguard Group is an American investment management company based in Malvern, Pennsylvania, that manages approximately $3.6 trillion[1] in assets. It is the largest provider of mutual funds and now the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock, with about $451 billion in ETF assets under management, as of March 2015.[3] It offers mutual funds and other financial products and services to retail and institutional investors in the United States and abroad. Founder and former chairman John C. Bogle is credited with the creation of the first index fund available to individual investors,[4] the popularization of index funds generally, and driving costs down across the mutual fund industry.[5]

Vanguard is owned by the funds themselves and, as a result, is owned by the investors in the funds.[6

We can officially credit Tim Zagar with the creation of the 1st crypto index fund?


After the Wellington board had (reluctantly) agreed to accept Bogle's offer to start the first index fund offered to the general public, Bogle established the fund. Initially called the First Index Trust in 1976 (later changed to Vanguard 500 Index Fund), it raised $11 million in its initial public offering. Sounds familiar The banks that managed the public offering had been hoping to raise $150 million, and after the disappointing results, suggested that Bogle cancel the fund.[13] Bogle refused, relishing the fact that he had just established the world's first index mutual fund. Vanguard at this time consisted of three employees: Bogle and two analysts. Growth in the first years was slow, a situation not helped by the fact that the fund did not pay commissions to brokers who sold it (which was unusual at the time). Within a year the fund had only grown to $17 million, but one of the Wellington Funds that Vanguard was administering had to be merged in with another fund, and Bogle convinced Wellington to merge it in with the Index fund.[13] This brought it up to almost $100 million.