Americas ETP News
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BlackRock to take $2T in ETF assets from State Street custody
December 7, 2021--State Street was sole custodian for the investing firm’s U.S. exchange-traded fund business for more than a decade
BlackRock Inc. is pulling some $2 trillion of assets out of State Street Corp.'s safekeeping, a move that will reduce the investing firm's reliance on a small number of parties and lower the fees it pays for back-office work.
For more than a decade, State Street served as the sole custodian to BlackRock's U.S. exchange-traded funds-low-cost investment vehicles that have exploded in popularity in recent years. State Street services all of the roughly $2.3 trillion across those BlackRock funds.
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Source: wsj.com
NYSE reveals sweeping changes to top leadership
June 6. 2021--President Stacey Cunningham and chair Jeffrey Sprecher to step aside
Intercontinental Exchange has made sweeping changes to its top management, including the two most senior positions at the New York Stock Exchange.
Stacey Cunningham, who became the first woman to lead the NYSE in 2018, will step aside as president. Jeffrey Sprecher, ICE's co-founder and chief executive, will relinquish his role as chair of the NYSE, which he has held since ICE bought the Big Board in 2013 for $8.2bn.
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Source: ft.com
ETFs shine as high taxes loom on US mutual fund capital gains
December 3, 2021--Several large asset managers have warned capital gains distributions will be 20% or more of the funds' NAV.
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Source: ft.com
SEC Rejects WisdomTree's Spot Bitcoin ETF Application
December 2, 2021--The decision comes seven months after the agency said it would start evaluating the asset manager's application.
The U.S. Securities and Exchange Commission (SEC) has denied WisdomTree's application for a spot bitcoin exchange-traded fund (ETF), the agency said in a letter on Wednesday.
Approval would have allowed retail and institutional investors to invest in a regulated financial product incorporating the world's oldest cryptocurrency, without requiring them to invest in the crypto directly.
The decision comes seven months after the regulator said it would start evaluating the WisdomTree Bitcoin Trust, which the ETF giant filed with the Cboe BZX exchange in March. The agency delayed its decision in June and again in July, as well as its consideration of other bitcoin spot ETFs.
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Source: coindesk.com
Fidelity Investments Canada ULC launches Fidelity Advantage Bitcoin ETFTM and Fidelity Advantage Bitcoin ETF FundTM
December 2, 2021--Leveraging Fidelity's institutional-grade security and global leadership in Bitcoin and Blockchain
Fidelity Investments Canada ULC, one of Canada's leading investment management firms, today announced the launch of Fidelity Advantage Bitcoin ETFTM and Fidelity Advantage Bitcoin ETF FundTM for investors looking for exposure to bitcoin, the largest cryptocurrency in the world.
These strategies leverage Fidelity Clearing Canada ULC (Fidelity Clearing), Canada's first Investment Industry Regulatory Organization of Canada (IIROC) entity to offer a secure digital asset trading and custody solution for institutional investors including investment funds.
Fidelity Advantage Bitcoin ETFTM begins trading on the Toronto Stock Exchange today with ticker symbols: FBTC (Canadians Dollar version) and FBTC.U (U.S. Dollar version).
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Source: Fidelity Investments Canada ULC
First Trust Exchange-Traded Fund II files with the SEC-First Trust Nasdaq International Cloud Computing ETF
December 2, 2021--First Trust Exchange-Traded Fund II has filed a post-effective amendment, registration statement with the SEC for the First Trust Nasdaq International Cloud Computing ETF.
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Source: SEC.gov
Fidelity's spot bitcoin ETF is set to start trading in Canada, while its US fund is still waiting for the SEC's green light
December 2, 2021--Fidelity has launched a spot bitcoin ETF in Canada that will start trading on Thursday.
Fidelity is "the biggest asset manager to date with a bitcoin ETF", Eric Balchunas, senior ETF analyst at Bloomberg said.
Spot bitcoin ETFs trade in Europe and Canada, but only futures-based ETFs have been approved in the US.
Fidelity Investments is about to launch an exchange traded fund (ETF) backed by bitcoin, rather than bitcoin futures, but it's listing the fund in Canada, as US regulators have still not given these particular crypto products the go-ahead.
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Source: markets.businessinsider.com
VanEck Introduces YUMY: ETF Investing in the Future of Food
December 2, 2021--New fund offers actively managed exposure to the leading innovators and disruptors solving some of today's most difficult agricultural challenges.
VanEck today announced the launch of the VanEck Future of Food ETF (YUMY), an actively managed equity ETF that provides exposure to companies engaged in agri-food technology and innovation.
YUMY is the first VanEck ETF to incorporate bottom-up, fundamental company research and will be overseen by portfolio managers Shawn Reynolds and Ammar James.
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Source: VanEck
GCI Enters Active ETF Market With Equity Fund, GCIG
December 1, 2021--On Wednesday, GCI Investors, an independent asset manager, announced the launch of its first U.S.-listed ETF, the Genuine Investors ETF (NYSE: GCIG). This active fund provides exposure to a long-term strategy of high-conviction investments powered by in-house valuation and quality analysis.
GCI's move into the ETF space allows access to the firm's previously private strategy of "Genuine Investing." This investment approach entails constructing a portfolio of high-quality businesses in certain industries that are structurally more attractive than others. "Genuine Investing" is differentiated and unburdened by common industry constraints such as short-duration time horizons, index-tracking, and the institutional imperative to sell newer products constantly.
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Source: nasdaq.com
Crypto.com Acquires Two IG Group Exchanges in $216M Deal
December 1, 2021--Crypto.com has announced yet another big play. The exchange has acquired Nadex and the Small Exchange to give customers access to derivatives and futures products. The acquisitions are only the latest in a series of big steps from Crypto.com.
Crypto.com Announces Exchange Acquisitions
After signing a string of major sponsorship deals throughout the year, Crypto.com is now also focusing on acquisitions.
The fast-rising crypto exchange announced it had bought the IG Group's North American Derivatives Exchange and Small Exchange in a $216 million deal Wednesday.
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Source: cryptobriefing.com
