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Finance giant Schwab Asset Management has announced that the cryptocurrency exchange-traded fund (ETF) has been listed. NYSE Back. Bidding will begin on Aug. Schwab Launches Its First Crypto-Related
Finance giant Schwab Asset Management has announced that the cryptocurrency exchange-traded fund (ETF) has been listed. NYSE Back. Bidding will begin on Aug.
Schwab Launches Its First Crypto-Related ETF—Schwab Crypto Thematic ETF https://t.co/iVkCYdNUQw pic.twitter.com/18rJUZ3phy
— Charles Schwab Corp (@CharlesSchwab) 29 July 2022
The ETF under the STCE code will track the “Cryptoeconomics Index”. Schwab Asset Management Exchange Fund will provide access to companies that can leverage digital assets: developers, miners, brokers and others.
The structure of the product does not include direct investments in cryptocurrencies.
According to David Botset, Head of Innovation and Equity Management at Schwab Asset Management, the initiative aims to meet the growing demand of companies seeking to generate revenue directly or indirectly from cryptocurrencies.
Earlier, the US Securities and Exchange Commission approved the launch of an ETF based on indices of crypto companies from Grayscale Investments and Valkyrie Investments.
Recall that in 2021, Walt Bettinger, CEO of Charles Schwab, said that the firm would enter the crypto industry after getting more regulatory clarity from regulators.
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I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
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