Schwab Offers Its First Crypto-Linked ETF Amid Asset Downturn

Schwab Asset Management is launching its first crypto-linked exchange-traded fund, jumping into the ring amid a severe downturn for digital-asset prices.

The ETF, set to trade under the ticker STCE, is making its debut this week, with Schwab saying the fund will give investors exposure to companies that “may benefit from the development or utilization of cryptocurrencies.” STCE will track a Schwab crypto index and carry a 0.3% management fee.

“This is certainly a noteworthy ETF from Schwab given how conservative the firm has been with new launches over the years,” said Nate Geraci, president of The ETF Store, ...