Charles Schwab is preparing to launch their inaugural line of exchange traded funds (ETFs) after waiting for the go-ahead for nearly a year.
One of the last regulatory steps is under way, and once it’s completed the Charles Schwab ETFs can launch. The funds could be trading as early as the current quarter. Luisa Beltran for Ignites reports that the deadline for “interested parties” to ask for a hearing on Schwab’s application for three international and six domestic ETFs is Oct. 22.
Although the launch date is not clear. If no hearing is requested, then Schwab should get the green light. The Securities and Exchange Commission (SEC) in the past has granted orders quickly if there are no hearing requests. To see the ETFs Schwab has filed for, click here.
Schwab’s entry into the ETF marketplace is coming at a good time for the industry, which has seen growth in assets this year. We’re still in the second or third inning and we should see some other big names enter the market, too.
For more stories about new ETFs, visit our new ETF category.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.