5th April 2026 > > James Seyffart & Charles Schwab.
- 8 hours ago
- 3 min read
tl;dr
James Seyffart is a hero for our times. Charles Schwab has finally got the memo.
Market Snap
Market Wrap
Oh, I do like to see a negative funding rate. A short squeeze into the mid-70s and the negative gamma option market-makers are going to be out in force buying back delta that they lose with every tick higher in the price, reinforcing the short squeeze, and adding to their own short position.
I guess back in the real world, no-one is expecting good news out of Iran anytime soon.
Curious Cryptos’ Commentary – Ledger Scam alert
Yes, I know, yet another one, very dull, but peeps need warning.
I haven’t tried clicking the link, but I am so very sure it will invite me to input my recovery phrase into a website that will then “protect” me from quantum computers.
I know this sounds crazy, but I know of someone who recently made the mistake of putting their 24-word seed phrase into a website to “protect” their crypto assets from an alleged fraudster. It is easy to predict what happened next.
Remember, Ledger will never ask you for your 24‑word recovery phrase. Any email or site that does is a scam. Please, please, never do it.
Curious Cryptos’ Commentary – Spot BTC ETFs
James Seyffart is a Bloomberg ETF analyst who is vocal on X. The launch of spot BTC ETFs undoubtedly raised his public profile amongst the crypto community, but apart from that, I don’t know of any specific axe he has to grind.
James has made the startling (to some) prediction that BTC ETFs will surpass Gold ETFs in AUM:
“Our view is that Bitcoin ETFs will be larger than gold ETFs.”
James explains:
“There are just more use cases of why somebody would put a Bitcoin ETF in a portfolio.”
He didn’t specifically mention the ability to earn yield on BTC whilst keeping custody (https://www.curiouscryptos.com/post/25th-march-2026-defi-vaults) but that is exactly what spot BTC ETFs will be doing once the regulatory groundwork has been finalised.
But here is the kicker that makes this interesting. Gold ETFs are valued at around $0.7 TRILLION whilst BTC ETFs are closer to $100bn. If James is right – and I know all readers fervently hope that is the case – adding over half a trillion dollars of investment into an asset with a market cap of just $1.3 TRILLION is going turbocharge that asset price.
Curious Cryptos’ Commentary – Charles Schwab
An established asset management firm with a mighty $12 TRILLION AUM was an early adopter of the opportunities provided by the internet enabling online stock brokerage accounts which we all just take for granted now. The wonders of buying and selling stocks by clicking a button rather than calling a broker, checking prices, assessing liquidity, confirming execution, and then waiting several days for a paper contract note (and even longer for settlement) remains with me today.
And so, it has been disappointing that despite making public overtures about developing crypto functionality for its roughly 40 million retail brokerage clients and nearly 50 million total client relationships, no substantive progress has been made. Until now:
Details are limited but CEO Rick Wurster has promised a rollout starting in Q2 2026. We know that clients will be able to buy physical BTC and ETH within their Schwab account without the worry around private keys, shutting off one avenue for the feral scumbag scammers. I expect that the Charles Schwab front-end will simply link into Coinbase who will also handle all custody providing a simple and seamless experience for new crypto investors.
I probably don’t need to remind you of this, but this initiative by Charles Schwas is driven only by customer demand, something to which James referred to above.
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