Schwab is the latest traditional financial services firm to introduce a crypto-related exchange-traded fund.

The Schwab Crypto Thematic ETF is expected to start trading on or about August 4 on the New York Stock Exchange under the ticker “STCE."

The ETF is designed to track the Schwab Crypto Thematic Index, which in turn aims to give investors “global exposure to companies that may benefit from the development or utilization of cryptocurrencies and other digital assets,” Schwab announced on Friday.

The fund will invest in the companies listed on the Crypto Thematic Index rather than in crypto or digital assets directly, according to the firm. The index taps human research, artificial intelligence and systematic models, the company says.

Schwab added that its ETF’s 0.30% annual operating expense ratio makes it “the lowest cost crypto-related ETF available to investors today.”

“For investors who are interested in cryptocurrency exposures, there is a whole ecosystem to consider as more companies seek to derive revenue from crypto directly and indirectly,” David Botset, head of equity product management and innovation at Schwab Asset Management, said in the announcement. “The Schwab Crypto Thematic ETF seeks to provide access to the growing global crypto ecosystem along with the benefits of transparency and low cost that investors and advisors expect from Schwab ETFs.”

Schwab’s crypto ETF joins similar funds from BlackRock and Fidelity.

BlackRock launched its iShares Blockchain and Tech ETF, which tracks the NYSE FactSet Global Blockchain Technologies Index, in January this year.

In April, Fidelity rolled out the Fidelity Crypto Industry and Digital Payments ETF and Fidelity Metaverse ETF.

Fidelity, however, went one step further the same month, announcing that it would allow the 23,000 companies using its 401(k) platform the option of letting plan participants put up to 20% of their 401(k) savings into Bitcoin.

That move has attracted attention from the Department of Labor and criticism from several Democratic lawmakers.

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