Americas ETP News
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Secretive active ETFs lose out to their fully transparent rivals
September 5, 2023--The portfolio-shielding models had a strong start when they were approved in 2019, but have failed to gain traction
Secretive exchange traded funds that hide what they are holding from potential investors appear to be falling out of favour.
US regulators approved semi-and non-transparent ETFs in 2019, paving the way for the structure to depart from the tried-and-trusted model where ETFs reveal their full portfolio publicly every day.
The new "portfolio-shielding" models were expected to encourage actively managed funds to enter the ETF market, something many active managers had been reluctant to do because they feared daily holdings disclosures would reveal their "secret sauce", allowing other investors to front-run their funds and steal their intellectual property.
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Source: ft.com
Strive Surpasses $1 Billion AUM in 1 Year, Solidifying Its Status as One of the Fastest Growing ETF Issuers
September 5, 2023--Strive Asset Management ("Strive"), whose mission is to maximize shareholder value by leading companies to focus on excellence, crossed one billion dollars in assets under management (AUM) one year after the launch of its first fund.
This comes on the heels of Strive ranking as the fastest growing asset manager in the country out of over 500 firms with less than $1 billion in assets in June.
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Source: Strive Asset Management
YieldMax Launches Option Income Strategy ETF on Exxon Mobil
August 31, 2023--YieldMax announced the launch today of the following ETF:
YieldMax XOM Option Income Strategy ETF (NYSE Arca: XOMO)
XOMO seeks to generate monthly income via a synthetic covered call strategy on Exxon Mobil Corporation (XOM).
The ETF is actively managed by ZEGA Financial. This ETF does not invest directly in XOM.
XOMO is the newest member of the growing YieldMax ETF family and, like all YieldMax ETFs, aims to deliver substantial monthly income to investors.
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Source: YieldMax
Innovator ETFs Announces Closure of Suite of Stacker ETFs
August 31, 2023--Innovator Capital Management, LLC (Innovator), pioneer and provider of the largest lineup of Defined Outcome ETFs, today announced its intention to close its October series of Stacker ETFs.
Trading in the ETFs will be halted at the close of business on October 2nd.
The October series of Stacker ETFs includes the following three ETFs:
Innovator Triple Stacker ETF-October (Ticker: TSOC)
Innovator Double Stacker ETF-October (Ticker:DSOC)
Innovator Double Stacker 9 Buffer ETF-October (Ticker: DBOC)
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Source: Innovator Capital Management
Grayscale Faces 'Instantaneous' Fee War in US Bitcoin ETF Race
August 31, 2023--Firm vying with BlackRock, others known to undercut on fees
GBTC 2% fee compares with ETF-industry average of 0.54%
Fresh off a pivotal win in court this week, Grayscale Investments LLC may soon find itself in another fight: the $7.5 trillion US exchange-traded industry's never-ending contest over fees.
A ruling Tuesday overturned the Securities and Exchange Commission's decision to block Grayscale's bid to convert its $17 billion Bitcoin trust into a physically backed ETF.
While the action potentially paves the way for the firm to attract a fresh wave of investors, there's just one thing: The product carries a 2% fee in its current form. That compares to an average of 0.54% across US-listed ETFs, and 1.48% for crypto exchange-traded products globally, Bloomberg Intelligence data show.
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Source: bloomberg.com
US SEC delays decision on Invesco, WisdomTree, Valkyrie bitcoin ETFs
August 31, 2023--The U.S. Securities and Exchange Commission (SEC) has delayed a decision on whether to approve applications for spot bitcoin exchange-traded funds (ETF) from Invesco (IVZ.N), WisdomTree (WT.N) and Valkyrie, a filing by the regulator showed on Thursday.
The SEC has pushed back the decision dates for the three proposals by several weeks to mid-October, but could potentially delay further. It was previously due to make a decision by next week.
The delay comes just two days after a federal appeals court ruled on Tuesday that the SEC was wrong to reject an application from Grayscale Investments to create a spot bitcoin ETF. A three-judge panel of the District of Columbia Court of Appeals in Washington said the regulator failed to fully explain its reasoning when denying Grayscale's product.
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Source: reuters.com
American Beacon Advisors Partners With Man AHL to Launch Firm's First ETF
August 31, 2023--Building on a 10-Year Partnership, the Firms Have Also Debuted Their Latest Mutual Fund-the American Beacon AHL Multi-Alternatives Fund-Further Expanding Their Alternatives Offerings
American Beacon Advisors, Inc. ("American Beacon"), an experienced provider of investment advisory services to institutional and retail markets, announced today the launch of its first exchange-traded fund- the American Beacon AHL Trend ETF ("the ETF") (Ticker: AHLT) - in addition to its latest mutual fund offering, the American Beacon AHL Multi-Alternatives Fund ("the Fund") (R6 Class: AHMRX; Y Class: AHMYX; A Class: AHMAX; C Class: AHMCX).
London-based AHL Partners LLP ("Man AHL"), a part of the global active investment manager, Man Group plc, will serve as sub-advisor for both funds. Shares of the ETF and mutual fund became available on August 31 and August 17, respectively.
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Source: American Beacon Advisors
Strive Asset Management Announces Launch of the Strive FAANG 2.0 ETF (NYSE: FTWO)
August 31, 2023--Offering Investors Exposure to Vital Sectors Amidst Changing Global Dynamics
Strive Asset Management ("Strive"), whose mission is to maximize shareholder value by leading companies to focus on excellence, launches its latest exchange-traded fund.
The Strive FAANG 2.0 ETF (NYSE: FTWO) offers investors exposure to capture the projected growth within sectors essential for global stability, offering investors the option to tap into industries that sustain and secure the modern way of life.
FTWO seeks to track an index comprised of businesses operating within vital sectors that analysts project will play a pivotal role in the coming decade.1 These sectors - Fuel (F), Aerospace (A), Agriculture (A), Nuclear (N), and Gold (G)- hold strategic importance amidst rising global challenges.
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Source: Strive Asset Management
Report: Retail Investors Aren't Slowing Down in 2023, Embracing Diversified Investing Strategies
August 30, 2023--A new report from Public finds that retail investors in 2023 are increasingly diversifying their portfolios, adopting new research strategies, and prioritizing investments in AI and ETFs
Public, an investing platform that lets members Invest in stocks, Treasuries, ETFs, crypto, and alternative assets with deep fundamental data and custom analysis powered by AI, surveyed 2,000+ retail investors and reviewed investing flows throughout the year to compile its 1H 2023 report.
Key findings from the report highlight investors are remaining active in the markets this year but are shifting their strategies. In 2023, more investors are focusing on due diligence and research, using artificial intelligence to inform investment decisions, and diversifying into fixed income products.
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Source: Public
Little evidence that a spot bitcoin ETF would expand the market
August 30, 2023--BlackRock's application and Grayscale's court victory stirred the crypto world, but such investment vehicles look very vanilla
You don't have to want to invest in bitcoin to be in favour of US regulators giving their approval to a bitcoin exchange traded fund. You can disapprove of other people putting their money into the cryptocurrency but defend the idea that the Securities and Exchange Commission should let them.
Perhaps not to the death- we don’t need to go all Voltaire about this-but you get the idea.
Applications for a spot bitcoin ETF-a fund that would actually hold bitcoin directly as opposed to investing in derivatives tied to the bitcoin price -have been consistently rejected by the SEC over the past decade.
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Source: ft.com
