Charles Schwab Launches Crypto ETF
Charles Schwab is one of the largest financial investing firms in the world, with assets under management at $655 billion. The company is expected to launch the Schwab Crypto Thematic ETF (NYSE Arca: STCE) in August 4th.
The investing firm announced that its ETF will be the first crypto-related but there is something to notice here. This ETF will not invest directly to cryptos, but to public companies that are active in the crypto space. This is the reason why it took the green light from the SEC.
Previous attempts for ETFs that will invest directly to cryptos like those from Grayscale, had been rejected from SEC due to the lack of regulatory framework.
We hope that some small moves will bring larger to crypto investing…..