OWNB vs STCE

OWNBFBitwise Bitcoin Standard Corporations ETF

STCEASchwab Crypto Thematic ETF

In short

OWNB Most crypto equity funds buy the miners and the exchanges. This one buys the balance sheet: public companies holding at least 1,000 bitcoin in treasury, weighted by the coins they own rather than by market cap. Bitwise launched it in 2025 as a first of its kind.

STCE Crypto exposure without owning a coin. STCE holds about 40 global companies tied to digital assets and blockchain, chosen by Schwab's own index, at a price that undercuts most thematic funds.

Stated mandate

OWNB The fund seeks to track the Bitwise Bitcoin Standard Corporations Index before fees and expenses. The index selects publicly traded companies meeting bitcoin-treasury, size, liquidity, and free-float requirements.

STCE The fund seeks to track, before fees and expenses, an index providing global exposure to companies that may benefit from developing or using cryptocurrencies and other digital assets, or from business activities tied to blockchain and distributed-ledger technology.

Why people hold it

• OWNB A hard rule, not a theme: a company needs at least 1,000 bitcoin on its books to qualify, and weights track the size of the coin stack, subject to caps.businesswire.com
• Global reach: at launch the basket held Tokyo, Hong Kong and Oslo-listed treasury owners, exposure that is fiddly to assemble in a US brokerage account.businesswire.com
• Roughly 26 stocks, rebalanced quarterly, so new treasury converts can enter and companies that shed their coins fall out.coindesk.com

• STCE Charges 0.30% a year, roughly half the typical fund in its global thematic group. Schwab billed it as the lowest-cost crypto-related ETF when it launched in 2022.aboutschwab.com
• Stocks, not coins: the index targets companies worldwide that may benefit from cryptocurrencies, digital assets and distributed-ledger technology.schwabassetmanagement.com
• Cheap, straightforward and liquid enough for a niche theme, which puts it in the top quartile of its global thematic peer group.

Worth knowing

• OWNB At 0.85% a year it prices above the crypto-equity median of 0.69%, and well above broad blockchain rivals like BKCH at 0.50%.
• Weighting by coins owned puts one dominant treasury holder at the top of the book, so a single company's story can move the fund as much as bitcoin does.businesswire.comcoindesk.com
• It launched in 2025 and stays small and thinly traded, so spreads can run wider than in established funds and the record is short.

• STCE Crypto-linked equities move violently, and with roughly 40 non-diversified names, a stumble at one holding is felt across the fund.aaii.com
• It owns crypto-adjacent businesses, not bitcoin, so its path can diverge from the coins themselves in either direction.aaii.com
• Modest asset base by ETF standards and distributions land only once or twice a year, so this is a theme sleeve rather than an income holding.

Full OWNB profile⁠

Full STCE profile⁠