Americas ETP News
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Actively Managed Sector ETF Strategy Launched on NYSE
August 26, 2021--Seeks Capital Appreciation with a Goal to Generate Alpha Against Traditional U.S. Large Cap Benchmarks
The Revere Sector Opportunity ETF (NYSE: RSPY) began trading on the New York Stock Exchange on August 24, 2021.
"Using our proprietary process overlayed across the eleven sectors of the S&P 500 Index, we identify expected leadership through technical and macro analysis as well as options intelligence", commented Scott Fullman, Portfolio Manager and Managing Director, Revere Wealth Management LLC ("Revere"), who serves as the Sub-Adviser to RSPY.
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Source: Revere Securities LLC
US slightly upgrades GDP estimate for last quarter to 6.6%
August 26, 2021--The U.S. economy grew at a robust 6.6% annual rate last quarter, slightly faster than previously estimated, the government said Thursday in a report that pointed to a sustained consumer-led rebound from the pandemic recession. But worries are growing that the delta variant of the coronavirus is beginning to cause a slowdown.
The report from the Commerce Department estimated that the nation's gross domestic product- its total output of goods and services-accelerated slightly in the April-June quarter from the 6.5% it had initially reported last month. The economy's expansion last quarter followed a solid 6.3% annual growth rate in the January-March period.
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Source: apnews.com
Global X Launches Six Options-based ETFs Focusing on Income and Risk Management Outcomes
August 26, 2021--Global X ETFs, the New York-based provider of exchange traded funds (ETFs), today announced the launch of three pairs of ETFs that employ options-based strategies in an effort to help investors achieve specific outcomes, such as generating income in a low yield environment and managing downside risks amid bouts of elevated volatility.
Each pair of funds includes both a Nasdaq 100 and S&P 500 Index-based version.
Fund Name: Global X Nasdaq 100(R) Risk Managed Income ETF
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Source: Global X
Capital Group joins rivals in rush to launch active ETFs
August 25, 2021--US investment house opts for fully transparent structure made popular by Cathie Wood's Ark funds.
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Source: FT.com
U.S. Authorities Probing Deutsche Bank's DWS Over Sustainability Claims
August 25, 2021--Investigation by Justice Department, SEC follow allegations from ex-sustainability chief that firm overstated efforts on environment, other issues
U.S. authorities are investigating Deutsche Bank AG's asset-management arm, DWS Group, after the firm's former head of sustainability said it overstated how much it used sustainable investing criteria to manage its assets, according to people familiar with the matter.
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Source: wsj.com
The Future Fund Launches New Active ETF
August 24, 2021--The Future Fund Active ETF (FFND) offers the opportunity to invest in innovative businesses that change the world.
The Future Fund LLC, an SEC-registered investment advisor, launched its first ETF, The Future Fund Active ETF. The fund, ticker FFND, begins trading today, and seeks to provide capital appreciation.
Gary Black, managing partner, and David Kalis, CFA, partner, have teamed up for a second time to bring the ETF to investors. Each has held portfolio management and investment research positions at some of the most well-known firms in the industry. Together, they have more than 50 years of experience managing portfolios for clients.
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Source: The Future Fund LLC
Tiny Issuer Thinks It Just Got the Edge in Race for Bitcoin ETF
August 24, 2021--Valkyrie Investments reckons it just vaulted to the front of the queue for approval from the Securities and Exchange Commission for the first U.S. Bitcoin exchange-traded fund thanks to a quirk that allows smaller issuers to file confidentially for new offerings.
The Nashville, Tennessee-based firm two months ago sought regulatory permission for a futures-based fund, likely the first company to do so before an onslaught by others following positive comments on the structure by the SEC. The request was revealed Tuesday after the Nasdaq exchange, where the Valkyrie XBTO Bitcoin Futures Fund would be listed, filed a response to the SEC.
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Source: bloomberg.com
Coinbase slammed for what users say is terrible customer service after hackers drain their accounts
August 24, 2021--CNBC interviewed Coinbase users across the country and found thousands of customer complaints against the company.
The interviews and complaints revealed a pattern of account takeovers, where users see money suddenly vanish from their account, followed by poor customer service from the company.
Coinbase's customer service has been primarily via email, and many customers say it is hard to reach representatives and that they have not been made whole for their losses.
Former employees say the company's customer service practices shifted over time, with representatives struggling to keep up with demand.
A spokesperson for the cryptocurrency exchange said the company is working on customer service and soon rolling out more support channels.
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Source: cnbc.com
Asset managers rush to file applications for bitcoin futures ETFs
August 23, 2021--SEC chair says such funds could win regulatory approval but analysts think investors might stay away
At least four asset managers have filed for ETFs that invest in bitcoin futures after Securities and Exchange Commission chair Gary Gensler earlier this month indicated that he could approve such funds.
But investors may not want them in lieu of physically backed bitcoin ETFs, analysts have said.
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Source: ft.com
Citi considering bitcoin futures trading for some institutional clients
August 23, 2021--Citigroup Inc (C.N) is considering offering bitcoin futures trading for some institutional clients, a spokesperson for the bank said on Tuesday, citing increased demand in the cryptocurrency space.
Bitcoin prices rose past $50,000 on Monday, after having weathered a crackdown by Chinese authorities on domestic cryptocurrency mining companies earlier this year, as mainstream adoption by corporations and the wider public gathers pace.
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Source: reuters.com
