Schwab renames $232M crypto ETF to include ‘NLP’

Schwab Asset Management renamed its $232.1 million Crypto Thematic ETF to the Schwab Crypto Thematic Natural Language Processing ETF in filings dated July 28, 2026. The fund retained the STCE ticker, a 0.30% expense ratio, the same benchmark index and its existing holdings. Schwab’s fund page shows the new formal name but offers no public explanation for the timing of the change.

The 2026 summary prospectus keeps the fund objective and the Schwab Crypto Thematic Index that supported the ETF at launch. Core selection procedures in the filing remain consistent with earlier disclosures: company disclosures are scored for relevance to crypto-related themes, then liquidity screens and manual review are applied to determine final holdings.

When the ETF began trading on Aug. 4, 2022, Schwab described the index as using natural language processing to identify, select and weight companies tied to crypto themes. The original prospectus outlined a proprietary algorithm that scanned public documents for crypto-related keywords, scored those documents for relevance to produce a “Thematic Beta,” and narrowed candidates via liquidity filters and manual checks.

The updated paperwork places the phrase “natural language processing” in the fund’s formal title and allows for adjustments to the index’s finer rules while preserving the broad methodology of scoring company disclosures and applying additional screens.

As of July 27, Schwab reported $232.1 million in net assets and 42 holdings. The largest positions at that date were Bitdeer Technologies at 6.38%, CleanSpark at 5.46% and Trump Media & Technology Group at 5.43%. Those figures reflect a dated portfolio snapshot and may change with trading or market moves. The filings and prospectus make clear the ETF holds equities rather than direct cryptocurrency or spot digital assets.

Beyond the name change, the fund’s ticker, fee, benchmark and core selection concept trace back to the mechanism Schwab described at launch. The company has not provided a public explanation for why the NLP wording was added four years after the fund began using the technique.