Charles Schwab Files For an ETF Dedicated to the Crypto Economy

In response to increasing customer demands, Charles Schwab, an American financial services corporation, has filed with the Securities and Exchange Commission to establish an exchange-traded fund (ETF) dedicated to the cryptocurrency economy. According to the filing, the goal of the proposed ETF is to follow as closely as possible, before fees and expenses, the total return of an index that is supposed to give investors around the world a chance to invest in companies that might benefit from the development or use of cryptocurrencies (like bitcoin) and other digital assets, as well as businesses that are involved in the use and adaptation of blockchain technology. Charles Schwab Is Looking Into The Crypto Market It is clear that the cryptocurrency sector and the general use of blockchain technology are gaining speed, as seen by the fact that numerous financial services organizations like Charles Schwab are entering the market. In order to provide its consumers with crypto trading services, the firm has been looking for ways to start a sort of cryptocurrency brokerage for some time. In order to achieve this aim, the newly established fund will invest in companies that are included in the Schwab Crypto Economy Index rather than directly in cryptocurrencies such as Bitcoin and Ethereum. This group of stocks represents businesses and organizations that are involved with cryptocurrency and blockchain technology, such as those that i...