What You Need to Know
- The ETF aims to offer exposure to companies that can benefit from crypto-related business activities.
- The fund seeks to track new index that doesn't represent direct investment in cryptocurrencies.
The Charles Schwab Corp. has introduced its first crypto-related ETF, offering investors global exposure to companies that the firm expects will benefit from development of cryptocurrencies and other digital assets.
Schwab’s asset management arm plans to make the Schwab Crypto Thematic ETF (NYSE Arca: STCE) available on or about Thursday.
The fund aims to track Schwab Asset Management’s new proprietary Schwab Crypto Thematic Index and will log the lowest annual operating expense ratio — 0.30% — currently available among crypto-related ETFs, the company says. The index does not directly track or invest in cryptocurrencies.