After the launch of Bitcoin spot ETF, it achieved a trading volume of $25.36 billion within 11 trading days. Market analysts speculate that Charles Schwab, the largest online broker in the United States, will also enter this business.
Recently, it has been reported in the financial market that Charles Schwab, a US financial giant, is about to get involved in this business. Charles Schwab, located in San Francisco, California, is the largest online broker in the United States with 30 million active brokerage accounts. Established in 1971, its assets under management have reached $7.13 trillion, and its market value is $116.7 billion.
Considering its comprehensive brokerage, banking, and financial advisory services, as well as its rich experience in handling various exchange-traded products (ETPs), Charles Schwab’s participation has become a target of great interest to market analysts. Eric Balchunas, a senior ETF analyst at Bloomberg, commented on this over the weekend.
Currently, Charles Schwab has provided 11 Bitcoin spot ETFs on Schwab.com and thinkorswim platforms, but so far, it has not launched its own exclusive Bitcoin spot ETF product. On the other hand, writer Lisa Shidler also delved into how Charles Schwab may use its extensive scale and competitively priced strategies to launch Bitcoin products to seize the market.
Analysts predict that the launch of Bitcoin spot ETFs will definitely happen. Eric Balchunas speculates that Charles Schwab may launch a product with a 0.1% fee in the next few months. Morningstar analyst Bryan Armour also affirms that this approach aligns with Charles Schwab’s operating style. He stated that Charles Schwab seems to have a unique strategy in product development. They have given up the advantage of being a fast follower in the market and instead focus on carefully considered product portfolios, which is expected to help them maintain competitiveness in the long run.
In addition, Nate Geraci, co-founder of the ETF Institute, expressed agreement with Eric Balchunas and Lisa Shidler’s views.
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