Lowest Cost Crypto ETF To Be Launched Next Week By Finance Biggie

0
17

More and more financial services companies are looking to expand into the world of crypto assets. When it comes to crypto ETFs, Grayscale is one of the biggest players pushing for recognition and clarity in regulation. In its pursuit of approval of a spot Bitcoin ETF, the company recently went to court against the SEC. The U.S. Securities and Exchange Commission (SEC) rejected Grayscale’s application for converting its Grayscale Bitcoin Trust (GBTC) vehicle to a spot ETF.

The Schwab Crypto Thematic ETF

In a latest, the Charles Schwab Corporation announced the launch of the Schwab Crypto Thematic ETF. The company said trading would commence on August 4. The ETF is aimed at providing investors with global exposure to the crypto ecosystem. The fund was formed to give exposure to companies that may benefit from the development of cryptocurrencies and other digital assets, it said. Interestingly, the Schwab ETF would be the cheapest such ETF in the market with an annual operating expense ratio of 0.30%. David Botset, managing director, head of equity product management and innovation at Schwab Asset Management, 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. 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.”

Fund To Help Track Companies Involved In Digital Assets

The Schwab crypto ETF provides exposure to companies involved in activities like validating consensus mechanisms. The fund also focuses on companies that enable use of cryptocurrency to buy or sell goods or services. The goal of the Schwab Crypto Thematic ETF is to track as closely as possible the total return of the Schwab Crypto Thematic Index, the company said.

Anvesh reports major developments around crypto adoption and price analysis. Having been associated with the industry since 2016, Anvesh is a strong advocate of decentralized technologies. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

bitcoin news india, bitcoin current price in india, bitcoin binance, bitcoin buy india

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here