- Charles Schwab (NYSE: SCHW) is set to launch a Crypto Economy ETF, according to an SEC filing. These are the details.
Charles Schwab has submitted a filing with the SEC to launch a Crypto Economy ETF. The company has seen an uptick in demand from customers for opportunities to invest in crypto.
“The fund’s goal is to track as closely as possible, before fees and expenses, the total return of an index that is designed to deliver global exposure to companies that may benefit from the development or utilization of cryptocurrencies (including bitcoin) and other digital assets, and the business activities connected to blockchain and other distributed ledger technology,” says the objective in the filing.
The fund will not invest in cryptocurrency or digital assets directly. And the fund will not invest in initial coin offerings. But the fund may have indirect exposure to cryptocurrencies by virtue of its investments in companies that use one or more digital assets as part of their business activities or that hold digital assets as proprietary investments.
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