The crypto thematic ETF, with its low-cost and index design, is different from other funds, Botset explained. The fund is “the lowest-cost crypto-related product in the marketplace at 30 basis points.” A basis point equals 0.01 percentage point.
“Our approach of combining the human insight with AI and in models to assess companies’ exposure to the crypto theme, we think, is differentiated,” he said of the fund.
The Schwab Crypto Thematic ETF surged roughly 5 % since its launch on Aug. 4.
Botset contends launch timing “was happenstance,” acknowledging the dramatic downside in the space.
