Crypto Whales Are Loading Up — Are You?
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Charles Schwab Corp. (NYSE:SCHW), one of the largest discount brokers, is again expanding its Schwab ETF OneSource platform, one of the largest commission-free exchange traded funds offerings in the brokerage industry.
What Happened
Schwab said Tuesday it's adding 25 ETFs from seven issuers to Schwab ETF OneSource, bringing the number of no commission funds on the platform to 539.
“Schwab ETF OneSource offers commission-free ETFs from 15 leading providers: Aberdeen Standard Investments, ALPS, DWS Group, Direxion, Global X Funds, IndexIQ, Invesco ETFs, iShares ETFs, John Hancock Investment Management, J.P. Morgan Asset Management, PIMCO, State Street Global Advisors SPDR ETFs, USCF, WisdomTree and Charles Schwab Investment Management,” according to a statement.
Why It's Important
ETFs available on Schwab OneSource over nearly 99% of all U.S. ETF assets under management and represent 83 Morningstar categories.
New offerings on the platform include the Global X Cloud Computing ETF (NASDAQ:CLOU), the Global X MSCI Argentina ETF (NYSE:ARGT) and the Global X MSCI China Financials ETF (NYSE:CHIX).
Direxion's lineup of relative weight ETFs also joins Schwab OneSource. Seven ETFs from JPMorgan joined OneSource, including the JPMorgan BetaBuilders Europe ETF (CBOE: BBEU), JPMorgan BetaBuilders Japan ETF (CBOE: BBJP) and the JPMorgan BetaBuilders Canada ETF (CBOE: BBCA).
“To date in 2019, Schwab ETF OneSource has added 285 funds to the program, more than doubling the number of commission-free ETFs available to clients compared to last year,” according to the company.
What's Next
In terms of what's next, it's likely Schwab and other brokers will continue expanding their commission-free ETF wares because the strategy is a proven winner when it comes to getting investors and their assets in the door.
“Assets in Schwab ETF OneSource were $182 billion as of May 31, 2019, up 81% compared to the same period in 2018. Year to date flows into ETFs in Schwab ETF OneSource are $13 billion, representing 70% of the total ETF flows at Schwab,” said the company.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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