Schwab Asset Management rolled out the Schwab Crypto Thematic ETF (NYSE Arca: STCE), with trading expected to start on or about August 4.
The fund invests in companies listed in the Schwab Crypto Thematic Index and will not directly invest in any cryptocurrency or digital assets.
The ETF aims to deliver global exposure to companies that may benefit from the development or use of cryptocurrencies including bitcoin and other digital assets, and the business activities connected to blockchain and other distributed ledger technology.
Schwab Asset Management said that with a 0.30% annual operating expense ratio, STCE will be the lowest cost crypto-related ETF available to investors today.
"The Schwab Crypto Thematic ETF seeks to provide access to the growing global crypto ecosystem along with the benefits of transparency and low cost that investors and advisors expect from Schwab ETFs," said David Botset, Managing Director, Head of Equity Product Management and Innovation at Schwab Asset Management.
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