03.24.25

Fidelity, Schwab Block Orders of BlackRock and Texas Capital ETFs

by: Emily Graffeo

Fidelity Investments and Charles Schwab are prohibiting clients from investing in money market exchange-traded funds (ETFs) on their trading platforms. The firms are blocking purchases of ETFs offered by BlackRock and Texas Capital, the first to track money market securities in an ETF structure. The new funds serve as a direct challenge to mutual-fund providers, who have long been big, established players in money market products.

Read the full article on Bloomberg