Charles Schwab Might Offer its Own Spot BTC ETF: Analysts

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Charles Schwab, an American multinational financial services company that offers financial services, might be planning to launch its own spot Bitcoin exchange-traded fund (ETF), as per the predictions from some analysts. 

Experts have added that the financial services firm might take the second-mover advantage by following the success of Fidelity’s spot Bitcoin ETF and offering lower fees than its competitors. Around eleven spot ETF applications were approved by the United States Securities and Exchange Commission (SEC) on January 10.

Charles Schwab Exploring Spot BTC ETF

Currently, Fidelity and BlackRock, two of the largest American asset management firms, are battling it out for the top spot in the BTC ETF industry, while Vanguard has completely refused to dabble with digital assets. 

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Meanwhile, Charles Schwab has taken more of a neutral position while allowing its customers to purchase shares in all eleven spot Bitcoin ETFs approved by the SEC, unlike Vanguard. However, the financial services firm has yet to create a proprietary offering for its customers.

Balchunas Weighs In

Prominent Bloomberg ETF analyst Eric Balchunas, who predicted the simultaneous approval of spot BTC ETFs, told RIABiz that Charles Schwab is currently considering the second-mover advantages of moving in the spot BTC ETF race. 

“The customers are so loyal and products are so cheap, they don’t have to be in any rush. Rain or shine, the flows come in,” Balchunas said. 

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Charles Schwab to Benefit from the Delay

Balchunas also predicted that the Westlake, Texas-based firm’s delay in rolling out a spot BTC ETF might work towards its benefits, allowing it to lower its fees than its competitors. 

“They may shock the world and offer something that is 10-basis-points in a few months,” the ETF analyst said.

Further, another analyst, Nate Geraci, claimed via social media platform X that an offering from Charles Schwab could come sooner rather than later. “I say it’s already [a] foregone conclusion,” Geraci noted. 

$2 Billion in AUM

As reported earlier by TheCoinRise, the assets under management (AUM) of BlackRock’s iShares Bitcoin Trust (IBIT) officially surpassed $2 billion after the price of Bitcoin broke past the $42,000 price level. 

BlackRock held around 49,952 bitcoins in the fund as of January 25, which makes its total value above $2 billion based on the current price of $42,200.

However, it is crucial to mention here that Grayscale’s spot BTC ETF has around $20 billion in AUM, as pointed out by Bloomberg Intelligence analyst James Seyffart. However, that is mostly because of GBTC’s conversion to spot ETF.

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