The three largest asset managers of the company: Charles Schwab, Fidelity and Vanguard, diversify their assets and buy shares of companies in the blockchain industry.
Charles Schwab banking and brokerage group has started buying Riot Blockchain shares. Previously, Fidelity and Vanguard also invested in Riot and other blockchain-related companies: HIVE Blockchain Technologies, Hut 8, and BC Group. According to financial information filed by Charles Schwab with the securities and exchange Commission (SEC), the company is buying Riot Blockchain shares for mutual funds.
In addition, this summer Schwab invested in a platform for creating applications on the Alchemy blockchain. Last fall, Vanguard and Symbiont developed a
blockchain platform for the currency market, and Fidelity has a digital asset division that plans to launch cryptocurrency trading services.
According to reports for the first half of this year, Charles Schwab Investment Management acquired
22,977 Riot shares for $52,000. The two Vanguard Index Fund and Vanguard Valley Forge Index Fund invested in 954,229 Riot shares worth $2.1 million, while the two Fidelity funds invested in 176,242 Riot shares worth $230,115 and 2,769,759 HIVE shares worth just over $1 million. Recall that Riot Blockchain and HIVE Blockchain Technologies are engaged in cryptocurrency mining.
Outside the US, Fidelity’s third Fund, Fidelity International, first purchased 10,451,094 shares worth $1.8 each from canadian mining company Hut 8 and 17 million shares at $8.3 from digital asset trading platform BC Group.
Vanguard has been acquiring Riot shares for three of its funds for the past three years. The funds held 269,610 shares worth $7.9 million in 2017, 187,049 shares worth $282,000 in 2018, and 826,391 shares worth $925,000 in 2019. Blackstone Group alternative investment funds also held Riot Blockchain shares last year, but stopped including them in their portfolios.