David Botset, the head of financial product provider and asset management firm Schwab Asset Management, which launched a crypto-focused ETF last week, stated in a program that they launched such an ETF due to high demand from their customers. "This is a product that stands out. This situation will become better over time," he said. The exchange traded fund also includes shares of companies such as MicroStrategy and Coinbase.

While the US has been discussing whether a spot Bitcoin ETF should be approved by the SEC for years, this issue has peaked with the 2021 bull season. While Bitcoin futures ETFs are being accepted, many investment companies have also started to offer the opportunity to invest in cryptocurrencies indirectly. One of these companies was ETF producer Schwab Asset Management. Schwab Asset Management, the largest U.S. ETF issuing company with more than $665 billion in assets under management, launched a major Bitcoin-focused ETF product last week.

Btc Etf

There are companies like Coinbase, MicroStrategy

This index fund called “Schwab Crypto Thematic ETF” and which includes Bitcoin-focused companies; It follows the shares of Bitcoin-focused companies such as Coinbase, RIOT Blockchain, Marathon Digital, MicroStrategy.

“We launched it upon the high demand of customers”

Speaking on CNBC's ETF program on the subject, company manager David Botset emphasized the customer demand and used the following statements:

   "The exit time of the ETF may have coincided with the bear market period, but we did not choose the time consciously. Time does not really interest us at all. As Schwab, we do not try to keep a certain timing in the market. We have not thought about whether we have found the bottom or not. High demand. One of the most important features of the ETF is its low cost. We have launched one of the least cost ETFs. Top 10 crypto companies are already in many ETFs yes… But our difference is in the index design… Example NCR Network, which has the largest network of Bitcoin ATMs, is also included in this index, as is StoneX, which provides crypto transactions and custody services to institutional investors."

The Schwab Crypto Thematic ETF, which was opened for investment on August 4, has increased by 5% since its release.