Schwab crypto ETF begins trading

The fund, which began trading on the NYSE Arca exchange, tracks the firm's Crypto Thematic Index.

The Schwab Crypto Thematic ETF has begun trading on the NYSE Arca exchange under the symbol STCE. The fund, from Schwab Asset Management, tracks the proprietary Schwab Crypto Thematic Index.

The fund is designed to provide investors with global exposure to companies that may benefit from the development or utilization of cryptocurrencies and other digital assets, Schwab said in a press release Thursday. It has an annual operating expense ratio of 0.30%.

Schwab said the index and fund are designed to offer more targeted exposure to cryptocurrency-focused companies compared to blockchain technology ETFs, which may have significant exposure to multi-national companies involved in blockchain.

[More: Schwab goes off script with crypto ETF filing]