Summary: The bis(imino)pyridyl vanadium(III ) complex [VCl3{2,6‐bis[(2,6‐iPr2C6H3)NC(Me)]2(C5H3N)}] activated with different aluminium cocatalysts (AlEt2Cl, Al2Et3Cl3, MAO) promotes chemoselective 1,4‐polymerization of butadiene with activity values higher than classical vanadium‐chloride‐based catalysts. The polymer structure depends on the nature of the cocatalyst employed. The MAO‐activated complex was also found to be active in ethylene‐butadiene copolymerization, producing copolymers with up to 45 mol‐% of trans‐1,4‐butadiene. Crystalline polyethylene and trans‐1,4‐poly(butadiene) segments were detected in these copolymers by DSC and 13C NMR spectroscopy.