Schwab rebranded its $232 million crypto-equity ETF on July 28, adding “Natural Language Processing” to the name to highlight the algorithm that has been picking the fund’s holdings since its 2022 launch. The Schwab Crypto Thematic Natural Language Processing ETF keeps its ticker STCE and its 0.30% annual operating expense ratio. It continues to track the Schwab Crypto Thematic Index and does not hold cryptocurrencies directly — it invests in equities of companies tied to the crypto ecosystem.
A name change four years in the making
Natural language processing was part of the fund’s selection process from the start. The ETF launched in August 2022, and its proprietary natural-language algorithm has been scoring company documents for crypto-related keywords ever since. The name change, effective July 28, merely puts that methodology front and center. Schwab hasn’t explained why it took four years to make the switch.
How the algorithm picks stocks
The fund’s selection process starts with a proprietary natural-language algorithm that scans company documents for crypto-related keywords and calculates a “Thematic Beta” score. That score is then run through liquidity screens and a manual review before a stock makes the cut. The result is a portfolio of 42 holdings as of July 27, 2026, with $232.1 million in net assets.
Top holdings show a broad crypto bet
The fund’s top three holdings as of July 27 were Bitdeer Technologies at 6.38%, CleanSpark at 5.46%, and Trump Media & Technology Group at 5.43%. Trump Media’s inclusion is a reminder that the fund’s exposure extends beyond crypto miners — the algorithm picks up companies with crypto-related activity, even if their main business is something else.
Schwab hasn’t said whether the name change signals any shift in strategy or if it’s just a marketing move. The fund continues to track the same index, and no further changes have been announced.
