Charles Schwab broker to launch crypto ETF

A new exchange-traded fund will be tied to an index of cryptocurrency-linked companies

04.03.2022 - 11:35

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What’s new? Major US broker Charles Schwab has applied to the US Securities and Exchange Commission (SEC) for registration of a new exchange-traded fund called Schwab Crypto Economy ETF. The fund will be launched based on the crypto companies index.

Broker’s application on the SEC website

What else is known about Crypto ETF? The broker has not yet disclosed which companies will be part of the fund. It is known that the main goal of the fund is “to track as closely as possible the total return of an index that is designed to deliver global exposure to companies that may benefit from mining or using cryptocurrencies and blockchain technology.”

If the SEC approves the application, the Schwab Crypto Economy ETF will be traded on the NYSE Arca platform. Earlier in February 2022, Grayscale Investments also announced the launch of its first exchange-traded fund, which includes stocks of companies focused on the cryptocurrency industry.

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