Bloomberg ETF analyst Eric Balchunas has indicated that Charles Schwab, a multi-trillion dollar asset management company, may soon change its neutral stance on Bitcoin spot Exchange Traded Funds (ETFs). Although clients are currently able to purchase shares of all approved Bitcoin spot ETFs through Charles Schwab, the company itself has not yet explored launching a proprietary product in this space.
According to Balchunas, the delay in launching a proprietary Bitcoin spot ETF might be strategic, enabling Charles Schwab to potentially offer lower fees than its competitors. This is also echoed by ETF expert Nate Geraci who believes that Charles Schwab's Bitcoin spot ETF is more a question of “when” rather than “if”.
Despite initial reservations towards the high speculative nature of cryptocurrencies, Charles Schwab has shown increasing acceptance of the sector. Alongside Fidelity and Citadel Securities, the company has lent its support to the EDX Markets trading platform, which is set to launch in June 2023.
Meanwhile, GF Fund Management will reportedly be launching its Bitcoin spot ETF on January 29th, further adding to the rapidly evolving crypto ETF landscape.
