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Investors have a new way to buy cryptocurrencies.
Schwab Asset Management released its Schwab Crypto Thematic ETF (STCE) this month to answer investor demand.
David Botset, who was directly involved in the launch, told CNBC’s “ETF Edge” the new product is unique because investors get an indirect way to significantly play cryptocurrencies.
“It is a very speculative investment,” the head of equity product and strategy said on Monday. “But we are seeing certain segments of Schwab investors that are seeking access to this asset category in their portfolios.”
The fund does not target actual cryptocurrencies. Instead, it bundles companies with skin in the game.
″[The Schwab Crypto Thematic ETF] is different than other crypto-related ETFs on the market today in the way that the index identifies, selects and weights constituents based on a...
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