By Will Feuer

 

Schwab Asset Management, the asset-management arm of Charles Schwab Corp., said it is launching its first crypto-related exchange-traded fund, the Schwab Crypto Thematic ETF, which will begin trading on Aug. 4.

The fund is designed to track Schwab's Crypto Thematic Index, which has global exposure to companies that may benefit from the development or use of cryptocurrencies and other digital assets. Schwab said it will be the lowest cost crypto-related ETF available.

The index will not track or invest directly in cryptocurrencies. Instead, it is intended to give investors exposure to business with crypto-related activities, including mining or staking, investing in or trading cryptocurrencies or other digital assets, and enabling the use of cryptocurrencies or other digital assets to buy and sell goods and services.

 

Write to Will Feuer at Will.Feuer@wsj.com

 

(END) Dow Jones Newswires

July 29, 2022 09:52 ET (13:52 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
Charles Schwab (NYSE:SCHW)
Historical Stock Chart
From Oct 2022 to Nov 2022 Click Here for more Charles Schwab Charts.
Charles Schwab (NYSE:SCHW)
Historical Stock Chart
From Nov 2021 to Nov 2022 Click Here for more Charles Schwab Charts.