Americas ETP News
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SEC's Gensler Signals Pathway for a Bitcoin ETF With Tough Rules
August 3, 2021--He hints at openness for an ETF with full mutual fund rules
He says he looks forward to SEC reviewing such a product
U.S. Securities and Exchange Commission Chair Gary Gensler is signaling a pathway for approving a Bitcoin exchange-traded fund, a move that crypto enthusiasts say is crucial for taking tokens to the mainstream.
Gensler said that an ETF that complies with the SEC's strict rules for mutual funds could provide investors with necessary protections. Speaking in his first major speech on cryptocurrencies, Gensler also signaled an openness to an ETF focused exclusively on Bitcoin futures, which are offered by CME Group Inc. and require that investors put down substantial margin to trade.
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Source: bloomberg.com
China tech crackdown claims specialised ETF victims
August 2, 2021--Funds with narrow focus on affected sectors feel the burn
Beijing's regulatory crackdown on some of its biggest companies in technology and education has delivered a bruising blow to highly specialised China-focused exchange traded funds.
Broad-based tech ETFs have sailed through virtually unscathed, but some narrowly focused thematic instruments have taken a beating.
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Source: ftchinese.com
Advisers test new fee models to widen their customer base
July 30, 2020--Payment based on assets under management is a poor proxy for work done for clients
Giving counsel on which assets to buy was once the central pillar of what registered investment advisers offered clients, but in recent years their role has sprawled to include financial planning, tax advice and other services.
Investing now takes up just 25 per cent of their time, according to this year's FT 300 top registered investment advisers. Yet the vast majority still use the decades-old approach of charging clients based on their assets under management -leading some industry observers to question whether this represents good value for clients.
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Source: FT.com
US ETF inflows surge past $500bn this year to eclipse 2020 record
July 29, 2021--Total assets reach $6.6tn as buoyant markets boost appeal of low-cost investment vehicles
Investors have ploughed half a trillion dollars into US exchange traded funds in less than eight months, eclipsing last year's record haul in the latest sign of how booming markets have sparked a rush into the low-cost vehicles.
Net inflows into US listed ETFs are running at $505bn so far this year, topping the total for 2020 by $1bn, according to CFRA, a data and research service. Total US ETF assets under management have hit $6.6tn.
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Source: FT.com
Direxion Launches New Daily 2X Leveraged ETF
July 29, 2021--New ETF Provides 200% Exposure to the Global Clean Energy Business
Direxion launched the Direxion Daily Global Clean Energy Bull 2X Shares (Ticker: KLNE). The Fund seeks to achieve 200% of the daily performance of the S&P Global Clean Energy Index.
The S&P Global Clean Energy Index provides exposure to companies from developed markets whose economic fortunes are tied to the global clean energy business. As of May 31, 2021, the index consisted of 81 constituents, which had a median total market capitalization of $11.2 billion, total market capitalizations ranging from $320 million to $143.5 billion and were concentrated in the utilities, industrials and information technology sectors.
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Source: direxion.com
Timothy Plan Launches Two Faith Based ETFs, 'TPHE' &' TPLE'
July 29, 2021--On Thursday, Timothy Plans, a faith-based investment company, announced the launch of two new ETFs, the Timothy Plan High Dividend Stock Enhanced ETF (TPHE) and the Timothy Plan US Large/Mid Cap Core Enhanced ETF (TPLE).
The ETFs are designed to allow investment opportunities that capitalize on dividend return (TPHE) or general market exposure (TPLE) while also protecting from abrupt downward movement of the markets. Both ETFs utilize the Timothy Plan eVALUEator proprietary filter, Biblically Responsible Investing, to exclude companies from its funds that don’t align with their core principles.
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Source: currently.att.yahoo.com
SPACs Forced to Fund Deals with More Expensive Financing: Report
July 28, 2021--Blank-check companies are turning to expensive sources of financing to push their deals over the line in a fresh sign of stress in what had been one of the hottest corners of Wall Street, The Financial Times reports.
Several companies that recently announced plans to go public by merging with a SPAC have raised cash to fund the deals by issuing convertible bonds, a form of debt that can be swapped into stock.
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Source: news.spacconference.com
US benchmark reform panel endorses forward-looking rate to replace Libor
July 29, 2021--The group overseeing the transition from Libor in the United States has approved positive interest rates and has taken an important step in the competition to replace the scandal-damaged benchmarks that underpin hundreds of trillions of dollars in financial contracts.
The Alternative Reference Interest Rate Commission (ARRC), established in 2014 by the Federal Reserve as an industry association to lead the transition to Libor, supports a new term rate created by CME Group based on the US-priority Libor alternative.
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Source: californianewstimes.com
Sparkline Launches Intangible Value ETF, ITAN
July 28, 2021--Sparkline Capital, an investment management firm that uses machine learning to help investors achieve alpha in large data sets, recently launched the Sparkline Intangible Value ETF, an actively managed fund that evaluates companies based on their "intangible value."
Intangible value is the value of a company derived from its intangible assets, says Sparkline founder and CIO Kai Wu.
"Intangible assets have been steadily rising in importance as the economy transitions from industrial to asset-light," he told ETF Trends. "Todays dominant firms no longer rely on tangible assets, but depend instead on intangible moats."
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Source: iqstockmarket.com
Retail investors to drive $1.5tn push towards bespoke index funds
July 28, 2021--Vanguard, JPMorgan, BlackRock and Morgan Stanley have all done deals to bolster their direct indexing offerings.
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Source: FT.com
