Schwab Asset Company To Issue First Crypto-based ETF
According to reports, Schwab Asset Management has launched its crypto-related ETF. Schwab asset firm is a division of the company Charles Schwab Corporation.
Also, investors will be allowed to trade the Cryptocurrency Thematic ETF. The company added that it would be available on NYSE (New York Stock Exchange) on August 4th.
Schwab To Launch First Crypto-based ETF
On July 29th, asset manager, Schwab, stated the introduction of its first crypto-based ETF. Also, the ETF will start trading on August 4th on New York Stock Exchange.
Usually, ETFs allow investors to have access to a basket portfolio of virtual assets. However, Schwab’s ETF will allow investors to have access to the companies that might benefit from the use of crypto.
Besides, the company’s latest ETF is meant to mirror its recent proprietary index, the STCE. One benefit of the index is that it does not follow the prices of cryptocurrency.
Also, the STCE does not invest in them. Instead, its purpose is to provide international exposure to firms that profit from various processes. They include verification of crypto mining, consensus processes, brokerage services, and trading of digital assets.
Surprisingly, 2022 has witnessed the release of crypto-related ETFs by different financial firms. They include Fidelity Investments, BlackRock, and currently Schwab.
Benefits Of Schwab’s ETF
Meanwhile, Schwab’s head of equity, David Botset, said the company’s cryptocurrency Thematic ETF will provide investors with access to the world of cryptocurrency. Also, it has other benefits for investors, such as low cost and transparency.
This is according to the request and expectations from the firm’s advisors and investors. Boset also added that:
“This ETF is for clients who have interest in crypto exposures. Also, the crypto industry is a wide sector with different options to consider. It provides an opportunity for companies to get direct and indirect revenue from crypto.”
Meanwhile, it is worth mentioning that the company first discussed this project in March. As of then, BlackRock and other asset managers had released their ETF. Schwab said it would follow in their footsteps.
Schwab has over 33 million clients. Last month, three finance companies said they would join forces to develop a cryptocurrency offering. The three firms are Fidelity Investments, Charles Schab Corp, and Citadel Securities.
The aim is to broaden the access of retail brokerage firms to virtual assets. Also, it would enable brokerage firms to provide crypto products to their clients.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
