Schwab Asset Management released its Schwab Crypto Thematic ETF this month. The fund does not target actual cryptocurrencies. "It is a very speculative investment," the head of equity product and strategy said on Monday. "We are seeing certain segments of Schwab investors that are seeking access to this asset category in their portfolios"

The Schwab Crypto Thematic ETF bundles companies with skin in the game. The fund is "the lowest-cost crypto-related product in the marketplace at 30 basis points," Botset says. Widely held crypto names including MicroStrategy, Marathon Digital, Riot Blockchain, Coinbase, Silvergate Capital, Robinhood and Interactive Brokers have holdings in the fund.

The Schwab Crypto Thematic ETF is up about 5 % since its launch on Aug. 4. A basis point equals 0.01 percentage point. Botset: "Our approach of combining the human insight with AI and in models to assess companies' exposure to the crypto theme, we think, is differentiated"
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