Home Finance Schwab launches its crypto-focused ETF on Wall Street

Schwab launches its crypto-focused ETF on Wall Street

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Charles Schwab

Charles Schwab, New York – Credit: Shutterstock

Charles Schwab announces the launch of a exchange traded fund (ETF) which provides exposure to companies that may benefit from the development or use of crypto-currencies.

Teased last March and named Schwab Crypto Thematic ETFthe fund will be offered from next Thursday on the New York Stock Exchange.

L’ETF does not invest directly in digital assets but follows an index, designed by the American giant, which offers a exposure at companies that should benefit from the development or theuse crypto-currencies.

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The broker cites companies that can benefit from activities such as trading, mining and staking digital coins. But also those that allow the use of crypto-currencies to purchase goods and services. In addition, the index also tracks companies that develop blockchain applications Or other distributed ledger technologies.

For investors interested in exposure to crypto currencies, there is a whole ecosystem to consider as more and more companies seek to derive revenue from crypto directly and indirectly The Schwab Crypto Thematic ETF seeks to provide access to the growing global crypto ecosystem as well as the benefits of transparency and low cost that investors and advisors have come to expect from Schwab ETFs,” commented David Botset, Head of Equity Product Management and Innovation at Schwab Asset Management.

Back in April, the behemoth BlackRock has also launched an exchange-traded fund that provides exposure to the crypto and blockchain sector.

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