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Schwab Launches Its Crypto-Focused ETF on Wall Street – Coins.fr

Charles Schwab, New York. Photo: Shutterstock.

Charles Schwab announces the launch of an exchange-traded fund (ETF) that provides access to companies that can benefit from the development or use of cryptocurrencies.

Announced last March and called the Schwab Crypto Thematic ETF, the fund will be offered from next Thursday on the New York Stock Exchange.

The ETF does not invest directly in digital assets, but tracks an index developed by the US giant that provides access to companies that could benefit from the development or use of cryptocurrencies.

The broker refers to companies that can benefit from activities such as trading, mining and staking digital coins. As well as those that allow you to use cryptocurrencies to purchase goods and services. In addition, the index also tracks companies that develop blockchain applications or other distributed ledger technologies.

For investors interested in gaining access to cryptocurrencies, there is a whole ecosystem to consider as more and more companies seek to earn income from cryptocurrencies directly or indirectly. The Schwab Crypto Thematic ETF aims to provide access to the growing global ecosystem of cryptocurrencies, as well as the transparency and low cost benefits that investors and advisors have come to expect from a Schwab ETF,” commented David Botset, Head of Product Management and Innovation at Schwab Asset Management.

Last April, the BlackRock juggernaut also launched an exchange-traded fund that provides access to the crypto and blockchain sector.

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