Schwab Asset Management, the asset management division of The Charles Schwab Corporation, said on Friday it would launch the Schwab Crypto Thematic ETF on or about August 4th.
The ETF will track Schwab Asset Management’s new proprietary index, the Schwab Crypto Thematic Index, and will provide investors with global exposure to companies that may draw benefits from the development of cryptocurrencies and other digital assets.
The objective of the Schwab Crypto Thematic ETF is to track as closely as possible, before fees and expenses, the total return of the Schwab Crypto Thematic Index, the company said.
“For investors who are interested in cryptocurrency exposures, there is a whole ecosystem to consider as more companies seek to derive revenue from crypto directly and indirectly,” David Botset, Managing Director, Head of Equity Product Management and Innovation at Schwab Asset Management, said in a press release.
The Schwab Crypto Thematic ETF is expected to be among the lowest cost crypto-related ETFs available to investors at present, with an annual operating expense ratio of 0.30%.