Schwab Asset Management whis is the asset management division of the firm Charles Schwab, said Friday that it's set to launch its first cryptocurrency-focused exchange-traded fund in August.
The Schwab Crypto Thematic ETF (STCE) is expected to list on the New York Stock Exchange on August 4. Schwab in my opinion has been more crypto friendly that other traditional brokers. They have an entire crypto investment page on their main site. They are guiding investors on several of their products that can give investors exposure to the space.
The fund that was recently announced was designed to track the Schwab Crypto Thematic Index. This is Schwab’s new 'proprietary' index, which provides investors with exposure to companies enabling the use of digital assets within the crypto ecosystem. This index doesn't directly track or invest in cryptos, but instead delivers exposure to firms that may benefit from the space. Think validation of consensus mechanisms (Proof-of-Stake or Proof-of-Work), or crypto trading (exchanges, DeFi, Metaverse, NFTS). Investors are always looking for ways to get into this growing crypto ecosystem. This is an easy way which will help with adoption provide a bridge to on board more users to decentralization.
As time goes on and the market matures we will see more companies looking to introduce products that allow investors direct or indirect exposure to the crypto sphere. What this tells me is that the space is maturing and for anyone that thinks this is a fad or will disappear I these large institutions getting into the game bring more validity.
For all you Schwab users I'd recommend checking out their products.