Charles Schwab Latest ETF Heavyweight To Propose Crypto Fund

Index-tracking fund would invest primarily in the stocks of companies involved in the space

article-image

Blockworks exclusive art by axel rangel

share

key takeaways

  • The filing by Charles Schwab’s asset management arm follows similar proposals by competitors BlackRock and Fidelity Investments
  • Charles Schwab CEO Walt Bettinger called cryptocurrencies “hard to ignore” in January

Charles Schwab’s asset management arm is looking to join the crypto ETF fray, following industry heavyweights like BlackRock and Fidelity Investments.

The fund group filed to launch an index-tracking ETF offering exposure to companies involved with digital assets, as well as business activities connected to blockchain technology, according to a Wednesday regulatory disclosure.

The proposed Schwab Crypto Economy ETF plans to invest at least 80% of net assets in stocks included in the Schwab Crypto Economy Index. The filing did not list a ticker or expense ratio.

The fund would not invest in digital assets directly.

A spokesperson for the company did not immediately return a request for comment.

Charles Schwab CEO Walt Bettinger told Bloomberg in January cryptocurrencies are “hard to ignore” and “fairly significant.”

A Schwab spokesperson told Blockworks that month the company offers third-party mutual funds and ETFs with crypto ties through its brokerage platform and was “evaluating how and when we could offer our clients additional opportunities for exposure to cryptocurrencies.”

The Schwab filing follows BlackRock’s, the world’s largest asset manager, filing to launch an ETF focused on blockchain technology in January. Fidelity Investments revealed plans a week later to bring to market ETFs that would invest in companies involved in the metaverse and crypto more broadly.

The bank’s asset management arm oversaw roughly $380 billion of assets within index mutual funds and ETFs, as of Sept. 30, the most recent data available.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

kamino cover.jpg

Research

Kamino has solidified its position as the leading money market on Solana and is emerging as a DeFi bluechip. Although DeFi competition is fierce, Kamino has kept iterating on its product to provide the best-in-class UX, paired with a robust risk management framework and battle-tested infrastructure. Given the rollout of Kamino Lend V2, the protocol may scale aggressively over the coming months, penetrating previously untapped markets in Solana DeFi.

article-image

In Friday’s Roundup, Jason Yanowitz said he doesn’t think we’ll see the markets “rip” until potentially January or even February

article-image

Why that the bull market might not start until 2025

article-image

August’s annual headline figure came in at 2.3% after an upward revision Thursday, so things are moving in the right direction 

article-image

MSTR’s stock price was roughly $248 at 2 pm ET Thursday

article-image

Ever since rates came off zero and fiscal deficits exploded, markets have started paying close attention to how the government is funding itself

article-image

Solana memecoins are collectively at an all-time high