Charles Schwab latest ETF heavyweight to propose crypto fund
2022/03/03 02:46According to Blockworks, Charles Schwab’s asset management arm is looking to join the crypto ETF fray, following industry heavyweights like BlackRock and Fidelity Investments. The fund group filed to launch an index-tracking ETF offering exposure to companies involved with digital assets, as well as business activities connected to blockchain technology, according to a Wednesday regulatory disclosure. The proposed Schwab Crypto Economy ETF plans to invest at least 80% of net assets in stocks included in the Schwab Crypto Economy Index. The filing did not list a ticker or expense ratio. The fund would not invest in digital assets directly. A spokesperson for the company did not immediately return a request for comment.
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