Schwab cryptocurrency thematic ETF to begin on August 4

As per Schwab Asset Management, the asset management division of The Charles Schwab Corporation, the Schwab Cryptocurrency Thematic ETF has officially started trading. Trading is expected to start on or around August 4, 2022.

Shed some light on this

The fund is made to adhere to the Schwab Crypto Thematic Index, a new proprietary index from Schwab Asset Management, allowing investors global exposure to businesses that can benefit from the development or use of cryptos and other digital assets. STCE, which is about to have an annual operating expense ratio of 0.30%, will be the least expensive cryptocurrency-related ETF presently offered to investors.

What it is aimed to do?

The index neither tracks nor invests in cryptos straightaway. Rather, it is aimed to offer exposure to businesses that might benefit from one or more of the following commercial ventures: disseminating, developing, or implementing applications of blockchain or other distributed ledger technology; directly validating consensus mechanisms for trading, investing in or acquiring crypto or other digital assets; supporting others in doing so.

What it is intended to offer?

For investors who are inclined toward crypto exposures, there is an entire ecosystem to consider as more firms seek to derive revenue from cryptocurrency indirectly and directly. The Schwab Crypto Thematic ETF tends to offer access to the developing global cryptocurrency ecosystem along with the advantages of transparency and low cost that advisors and investors expect from Schwab ETFs.  

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