HomeCoinsBitcoin (BTC)Charles Schwab Files for 'Crypto Economy ETF' With SEC – Finance Bitcoin...

Charles Schwab Files for ‘Crypto Economy ETF’ With SEC – Finance Bitcoin News

- Advertisement -


Charles Schwab is launching a crypto economy exchange-traded fund (ETF). According to the company’s filing with the U.S. Securities and Exchange Commission (SEC), “Schwab Crypto Economy ETF” will trade on the NYSE Arca.

Charles Schwab Registers Crypto Economy ETF With SEC

Charles Schwab, one of the largest financial institutions in the U.S., filed a registration statement with the U.S. Securities and Exchange Commission (SEC) Wednesday for “Schwab Crypto Economy ETF.”

The new exchange-traded fund will be listed on the NYSE Arca, the filing shows, adding that the registration statement is expected to become effective on May 16. The registrant is Schwab Strategic Trust, Charles Schwab’s registered investment company.

“The fund’s goal is to track as closely as possible … 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,” the filing describes, adding:

To pursue its goal, the fund generally invests in stocks that are included in the Schwab Crypto Economy Index.

The index is designed to deliver global exposure to companies that are actively engaged in crypto-related business activities such as mining, staking, investing, or trading cryptocurrencies.

Noting that “The fund will not invest in cryptocurrency or digital assets directly,” the filing details:

The fund may, however, 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.

What do you think about Charles Schwab launching a cryptocurrency economy ETF? Let us know in the comments section below.

Charles Schwab Files for 'Crypto Economy ETF' With SEC – Finance Bitcoin News
Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,580FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 23,210.22
ethereum
Ethereum (ETH) $ 1,711.45
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 142.50
litecoin
Litecoin (LTC) $ 61.65
eos
EOS (EOS) $ 1.24
okb
OKB (OKB) $ 18.30
tezos
Tezos (XTZ) $ 1.91
leo-token
LEO Token (LEO) $ 4.90
cardano
Cardano (ADA) $ 0.521977
monero
Monero (XMR) $ 168.26
stellar
Stellar (XLM) $ 0.123911
chainlink
Chainlink (LINK) $ 8.20
huobi-token
Huobi (HT) $ 4.38
tron
TRON (TRX) $ 0.070172
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 54.21
neo
NEO (NEO) $ 11.53
iota
IOTA (MIOTA) $ 0.348692
nem
NEM (XEM) $ 0.051973
zcash
Zcash (ZEC) $ 71.15
maker
Maker (MKR) $ 1,135.99
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 38.25
vechain
VeChain (VET) $ 0.031516
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX (FTT) $ 30.81
kucoin-shares
KuCoin (KCS) $ 10.68
waves
Waves (WAVES) $ 6.12