1. Home
  2. Charles Schwab

Charles Schwab

Financial Giant Charles Schwab Signals Big Moves in Crypto Trading

Financial Giant Charles Schwab Signals Big Moves in Crypto TradingCharles Schwab is preparing to launch spot cryptocurrency trading as U.S. regulations evolve, with leadership signaling optimism amid a shifting regulatory and competitive landscape. Charles Schwab Eyes Major Crypto Expansion as US Regulations Evolve Rick Wurster, the incoming CEO of Charles Schwab Corp., has revealed the company’s readiness to offer spot cryptocurrency trading, pending favorable […]

Bitcoin Technical Analysis: BTC Flirts With $100K as Market Awaits Directional Clarity

US Treasury Accused of Spying on Americans’ Bank Transactions in Secret Surveillance Program As Secretary Yellen Confirms ‘Communications Took Place’

US Treasury Accused of Spying on Americans’ Bank Transactions in Secret Surveillance Program As Secretary Yellen Confirms ‘Communications Took Place’

US Treasury Secretary Janet Yellen is responding to accusations that the US government and more than a dozen financial institutions have teamed up to spy on Americans’ private bank transactions. The House Judiciary Committee recently published a memo accusing the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) of urging banks to surveil their customers’ transactions […]

The post US Treasury Accused of Spying on Americans’ Bank Transactions in Secret Surveillance Program As Secretary Yellen Confirms ‘Communications Took Place’ appeared first on The Daily Hodl.

Bitcoin Technical Analysis: BTC Flirts With $100K as Market Awaits Directional Clarity

Nearly $60,000,000,000 Yanked Out of Three US Banks Amid Collapse of Silicon Valley Bank and Other Lenders: Report

Nearly ,000,000,000 Yanked Out of Three US Banks Amid Collapse of Silicon Valley Bank and Other Lenders: Report

Tens of billions of dollars have reportedly left three US banks as depositors look for better alternatives that could generate higher returns on their savings. According to a new Financial Times report, nearly $60 billion worth of deposits have been yanked out of banking giants Charles Schwab, State Street and M&T in Q1 of 2023. […]

The post Nearly $60,000,000,000 Yanked Out of Three US Banks Amid Collapse of Silicon Valley Bank and Other Lenders: Report appeared first on The Daily Hodl.

Bitcoin Technical Analysis: BTC Flirts With $100K as Market Awaits Directional Clarity

New Court Documents Show Apple, Netflix, Binance and Coinbase Among Creditors Owed Money by FTX

New Court Documents Show Apple, Netflix, Binance and Coinbase Among Creditors Owed Money by FTX

New court documents reveal that collapsed crypto exchange FTX owes money to a slew of marquee businesses, including Apple and Netflix. FTX, which went bankrupt in November, allegedly owed billions of dollars to a number of prominent companies before it collapsed, the extent revealed in bankruptcy court filings. Some of those companies include tech giant […]

The post New Court Documents Show Apple, Netflix, Binance and Coinbase Among Creditors Owed Money by FTX appeared first on The Daily Hodl.

Bitcoin Technical Analysis: BTC Flirts With $100K as Market Awaits Directional Clarity

Charles Schwab: Cryptocurrency Is a Top Method for Retirement Savings

Charles Schwab: Cryptocurrency Is a Top Method for Retirement SavingsA study published by financial giant Charles Schwab shows that cryptocurrency is a top method for retirement savings. “Gen Z and millennial workers are more likely to also invest in cryptocurrency, real estate, annuities, and small businesses, unlike older generations.” Crypto Investments in 401(k) Accounts Financial giant Charles Schwab published a report titled “401(k) Participant […]

Bitcoin Technical Analysis: BTC Flirts With $100K as Market Awaits Directional Clarity

Almost 50% of Gen Z and Millennials want crypto in retirement funds: Survey

Nearly half of Gen Z and Millennials are also already invested in digital assets outside of their retirement funds and cited “inflation” as the biggest obstacle to early retirement.

Nearly half of Gen Z and Millennials want to see crypto become a part of their 401(k) retirement plans, according to an October survey from United States asset manager Charles Schwab. 

Asking participants what they would like to see added to their 401(k) retirement products, the firm found that 46% of Gen Z and 45% of Millennials said they "wish" they could invest in cryptocurrencies as part of their retirement planning.

It shouldn't come as a surprise, as the survey also found that 43% of Gen Z and 47% of Millennials are investing in cryptocurrencies outside their 401(k) already, which could suggest the group's affinity for the asset class. 

The asset manager surveyed 1,100 401(k) retirement plan participants aged between 21 to 70 to complete the 10-minute survey conducted between Apr. 4 and Apr. 19, 2022.

Participants of the survey needed to have worked for a company with 25 or more employees and be current contributors to their company's 401(k) plans. 

Millennials generally refer to those born in the early 1980s to mid-1990s, with Gen Z generally born between the mid to late 1990s to the early 2010s. 

The results are in stark contrast to the surveyed Gen X and Boomers — those born anywhere between the mid-1940s to late 1970s — with just 31% and 11% respectively wanting to invest in cryptocurrencies through their 401(k), and even less being current investors in the asset class. 

Across the board, inflation was seen as the leading obstacle to retirement. 

A similar study by Investopedia in April found only 28% of United States-based Millennials and 17% of Gen Z’s surveyed expected to use cryptocurrency to support themselves in retirement, however. 

Related: Roth IRAs: The ideal long-term cryptocurrency investment?

The asset manager currently does not offer any cryptocurrency investments as part of its 401(k) retirement plans, though crypto-based retirement funds have been in the works since Feb. 2019.

In April, Fidelity Investment reportedly put plans together to open up Bitcoin investment for ts 401(k) retirement saving account holders, with savers allowed to allocate as much as 20% of Bitcoin (BTC) to their savings portfolio.

In Australia, Rest Super became the first retirement fund to offer cryptocurrency allocation as part of a diversified portfolio to its 1.9 million members in Nov. 2021.

While most digital asset retirement funds are offered in the form of Bitcoin or Ether (ETH), a North Virginian county speculated putting a proportion of retirees' pension funds into a decentralized finance (DeFi) yield farming account in May. 2022 — which was later approved in Aug. 2022.

But things can go wrong. A Quebec pension fund lost almost all of its $154.7 million which was heavily invested into the now-bankrupt cryptocurrency lending platform Celsius.

Controversies like this have left U.S. Senators divided on the seriousness of the risks involved with crypto-exposed 401(k) retirement plans.

Among those are Democrat Senators Elizabeth Warren, Dick Durbin, and Tina Smith, who’ve previously argued that it is a “bridge too far” to expose American’s “hard-earned” retirement funds to “cryptocurrency casinos.”

Bitcoin Technical Analysis: BTC Flirts With $100K as Market Awaits Directional Clarity

$4,500,000,000,000 Asset Management Giant Fidelity Begins Sales for New Ethereum (ETH) Index Fund

,500,000,000,000 Asset Management Giant Fidelity Begins Sales for New Ethereum (ETH) Index Fund

One of the largest financial services giants in the world has begun offering exposure to Ethereum through a new ETH index fund. According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Fidelity, a firm with over $4.5 trillion in assets under management, is launching to start an index fund centered around […]

The post $4,500,000,000,000 Asset Management Giant Fidelity Begins Sales for New Ethereum (ETH) Index Fund appeared first on The Daily Hodl.

Bitcoin Technical Analysis: BTC Flirts With $100K as Market Awaits Directional Clarity

Financial Heavyweights Citadel, Charles Schwab, Fidelity Confirm Cryptocurrency Exchange Launch

Financial Heavyweights Citadel, Charles Schwab, Fidelity Confirm Cryptocurrency Exchange LaunchA number of financial giants including Fidelity Investments, Citadel Securities, and Charles Schwab Corp. announced on Tuesday that the consortium of companies plans to launch a cryptocurrency exchange called EDX Markets. Reports note that firms like Paradigm, Sequoia Capital, and Virtu Financial are also backing the new crypto trading platform. The story was first reported […]

Bitcoin Technical Analysis: BTC Flirts With $100K as Market Awaits Directional Clarity

ETH products grow in August as BTC products dip: CryptoCompare report

The upcoming Merge has contributed to a rise in Ethereum investment products and trading volume, as crypto market AUM figures continue to drop amid the bear market

Ethereum investment products increased by 2.36% to $6.81 billion in assets under management (AUM) throughout August, outperforming Bitcoin products which saw a 7.16% drop off to $17.4 billion. 

The figures were contained in a new report by CryptoCompare.

This was also reflected in the Bitcoin (BTC) and Ethereum (ETH)-product trading volumes, with Grayscale’s most notable Bitcoin product, GBTC experiencing a 24.4% drop in volume, while its Ethereum product, GETH actually increased 23.2%. CryptoCompare's report suggeste the highly anticipated Ethereum Merge was the cause behind the change in trading volumes:

Indeed, even at a more granular level, no Bitcoin products covered in this report saw AUM or volume gains in the month of August. We could be seeing interest move away from Bitcoin in the short term, as Ethereum-based products hold the attention with the much-anticipated merge on the horizon.

Monthly AUM figures for digital asset investment products fell 4% overall, which was largely attributed to 6% fall from Grayscale’s GBTC product, as it accounts for $13.4 billion of the total $25.8 billion of digital assets under management (53.4%).

The largest inflows came from products falling under the “Other” umbrella, representing non-Bitcoin and Ethereum products, which saw a 12.3% increase to $1.13 billion over the first three weeks, according to the  report.

Monthly AUM figures for digital asset investment products have steadily dropped throughout the bear market. Source: Crypto Compare.

Despite the bear market, a number of highly-regarded financial institutions have launched crypto investment products throughout the month of August. These products have come in the form of Exchange Traded Funds (ETFs), Exchange Traded Certificates (ETC), Exchange Traded Notes (ETN) and Trust products.

Among the most notable was BlackRock’s private spot Bitcoin Trust, a move which brought about a “here comes Wall Street” response from former Grayscale CEO Barry Silbert. The launch of the Bitcoin Trust from the world’s largest asset manager came following its partnership with Coinbase to provide its clients with institutional trading services.

Charles Schwab was another financial institution to make a play this month, having launched its own “Schwab Crypto Thematic ETF”, tickered STCE on the New York Stock Exchange, which provides exposure to a mix of mining and staking companies, along with several blockchain-based applications.

Related: Institutions flocking to Ethereum for 7 straight weeks as Merge nears: Report

BetaShares launched Australia’s first Metaverse-focused ETF on the Australian Stock Exchange (ASX), along with a new Metaverse and nonfungible token (NFT) focused ETF launched by finance firm SoFi.

Bitcoin Technical Analysis: BTC Flirts With $100K as Market Awaits Directional Clarity

$655,000,000,000 Investment Giant Charles Schwab To Launch New Crypto-Themed ETF

5,000,000,000 Investment Giant Charles Schwab To Launch New Crypto-Themed ETF

The asset management arm of one of the biggest financial institutions in the world is set to launch a new crypto-themed exchange-traded fund (ETF) this week. According to a new press release, Schwab Asset Management, a branch of Charles Schwab, will be launching the Schwab Crypto Thematic ETF as soon as August 4th. The firm […]

The post $655,000,000,000 Investment Giant Charles Schwab To Launch New Crypto-Themed ETF appeared first on The Daily Hodl.

Bitcoin Technical Analysis: BTC Flirts With $100K as Market Awaits Directional Clarity