Investment brokerage Charles Schwab filed to create a 'Crypto Economy ETF' on Thursday, according to regulatory filings.
Investment brokerage Charles Schwab filed to create a"Crypto Economy ETF" on Thursday, according to regulatory filings."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 and other digital assets, and the business activities connected to blockchain and other distributed ledger technology.
The fund, as structured, is intended to track the performance of a Schwab Crypto Economy Index. Which specific firms the index will track is unknown as of press time. If approved, the ETF would trade on the NYSE Arca exchange."The fund will not invest in cryptocurrency or digital assets directly," the firm wrote."The fund will not invest in initial coin offerings.
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