Investment firm Charles Schwab formed the first cryptocurrency-related ETF, and trading is expected to start on or around August 4. The fund will follow the Schwab Crypto Thematic Index, according to a Friday announcement by the asset manager. Investors will be introduced to businesses through this new fund that might gain from advancing or expanding the use of cryptocurrencies and digital assets. The ETF aims to offer “access to the developing global crypto ecosystem along with the benefits of transparency and low cost that investors and advisers expect from Schwab ETFs,” according to David Botset, managing director and head of equities product management and innovation at Schwab. Schwab Crypto Thematic Index The research team at the company created the Schwab Crypto Thematic Index, which the ETF would follow. It employed a combination of human intuition, artificial intelligence technologies, and systematic algorithms to track businesses according to their relevance to cryptocurrencies. This index does not hold any cryptocurrencies in direct investment or tracking. The release states that the ETF would have an annual operating expense ratio of approximately 0.30%, making it the least expensive crypto-related ETF available. However, some non-US issuers charge nothing for goods directly dealing with cryptocurrency. Schwab Submitted Application To SEC In March, the business submitted an application to the SEC for a crypto econom...
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