Charles Schwab May Enter Bitcoin ETF Market, Analyst Predicts: ‘They Could Have Something Up Their Sleeve’

Charles Schwab, the multi-trillion-dollar asset management firm, could make its foray into the Bitcoin exchange-traded funds market, analysts predict.

What Happened: This move follows the industry giants BlackRock and Fidelity, whose Bitcoin ETFs have garnered combined assets of nearly $4 billion in just two weeks.

Asset managers on the sidelines, including Charles Schwab, are noticing the market’s growing enthusiasm. 

Bloomberg’s ETF analyst Eric Balchunas in an interview with RIABiz suggests that Schwab is strategically timing its entry and might surprise the market with a competitively low-fee ETF offering. “They [Charles Schwab] may shock the world and offer something that is ten basis points in a few months,” he said. “I wouldn’t be surprised. They could have something up their sleeve. They might like to do something like that.”

See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals

Why It Matters: Currently, Charles Schwab permits its investors to freely invest in any available spot Bitcoin ETFs, yet it hasn’t launched its own. Experts like Balchunas and ETF specialist Nate Geraci believe that such an offering from Schwab is likely on the horizon.

Charles Schwab did not respond to Benzinga’s request to comment, at the time of publication.

Photo Courtesy: Shutterstock.com

Price Action: At the time of writing, Bitcoin was trading at $42,251 up 1.52% in the last 24 hours, according to Benzinga Pro. 

Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?

Go Source