Asset management division of Schwab Asset Management Charles Schwab Corporation Shu announced the release of Schwab Crypto Theme ETFThe first day of trading is expected to be around August 4th on the New York Stock Exchange. ETFs are traded under the STCE symbol.
Provides access to companies that are profiting from crypto
Schwab’s offering provides investors with access to companies that may benefit from the development or use of Cryptocurrency Contrast with ETFs that track the performance of a diverse portfolio or basket of digital assets.
Indexes do not track/invest in crypto
Instead of tracking or investing directly Cryptocurrency, the index is exposed to companies that directly or facilitate validation of consensus mechanisms, such as mining and staking, trading crypto and other digital assets, and allowing crypto and other digital assets to be used to buy and sell goods and services. provide.involved in the development, distribution or implementation of Blockchain Or any other distributed ledger technology.
Shwab shows that with an annual operating expense ratio of 0.30%, STCE will be the lowest cost crypto-related ETF available to investors.
“For investors interested in Cryptocurrency As more companies seek to earn revenue directly and indirectly from cryptocurrencies, the entire ecosystem must be considered. ” David BotsettManaging Director, Head of Equity Product Management and Innovation at Schwab Asset Management.
“The Schwab CryptoThematic ETF seeks to provide access to a growing global crypto ecosystem, along with the transparency and low-cost benefits investors and advisors expect from Schwab ETFs,” he added.
