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WisdomTree faces new battle with largest shareholder
May 7, 2024--ETFS Capital's Graham Tuckwell urges investors to cast proxy ballots against reappointment of CEO Jonathan Steinberg
WisdomTree's largest shareholder has launched a new attempt to oust its chief executive, pressing for a potential sale of the $107bn asset manager and criticising its recent push into decentralised finance.
Graham Tuckwell, chair of ETFS Capital, which owns about 18 per cent of WisdomTree, is urging investors to cast proxy ballots against the reappointment of founder and CEO Jonathan "Jono" Steinberg and two other board members at the company's upcoming annual meeting. WisdomTree, in response, insisted "there is no case for change" and has asked stockholders to "not let Mr Tuckwell derail our progress and hinder our success".
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Source: ft.com
US SEC expected to deny spot ether ETFs next month, industry sources say
May 6, 2024--The United States Securities and Exchange Commission has delayed its decision on Galaxy Invesco's application for a spot Ether
exchange-traded fund (ETF).
In a May 6 filing, the SEC gave itself another 60 days to make a call on the Galaxy's ETF, with the next deadline set to July 5.
"The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein," the SEC wrote.
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Source: cointelegraph.com
Worsening Weather Is Igniting a $25 Billion Market
May 4, 2024--Marty Malinow's mom never could get her head around what her son did for a living. To friends, she said he was "a stockbroker that does something with the weather." Malinow couldn’t really object- he knew most people had no clue about financial contracts based on things like sunshine, rainfall and wind.
That's beginning to change. Against a backdrop of rising climate volatility and social shifts, demand for weather derivatives is surging. Average trading volumes for listed products jumped more than 260% in 2023, according to the CME Group, with the number of outstanding contracts currently 48% higher than a year ago.
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Source: bloomberg.com
Retail investors snap up triple-leveraged US equity ETFs
May 4, 2024--Volatile April markets draw money into riskier trades
Yield-hungry retail investors piled into highly leveraged US exchange traded funds in April, drawn to volatile markets stoked by uncertainty over the outlook for interest rates.
Investors have pushed around $5.2bn into the top 22 leveraged ETFs, which can magnify potential gains and losses, in the year to the end of April, according to VandaTrack, a data company which monitors retail trading flows.
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Source: ft.com
John Hancock Investment Management Launches New High Yield ETF Subadvised by Marathon Asset Management
May 2, 2024--John Hancock Investment Management, a company of Manulife Investment Management, today announced the launch of the John Hancock High Yield ETF (NYSE Arca: JHHY). The new actively managed ETF is subadvised by Marathon Asset Management, L.P. (Marathon), a global credit investment manager.
With more than $22 billion in assets under management as of 12/31/23, Marathon's credit platform is recognized for its deep expertise across the spectrum of private and public credit markets.
JHHY's primary investment objective is to maximize current income with a secondary goal of capital appreciation. Under normal market conditions, JHHY will invest at least 80% of its net assets (plus any borrowings for investment purposes) in U.S.;dollar-denominated high-yield corporate bonds.*
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Source: John Hancock Investment Management
YieldMax Launches Short TSLA Option Income Strategy ETF CRSH
May 2, 2024--YieldMaxTM announced the launch today of the YieldMaxTM Short TSLA Option Income Strategy ETF (NYSE Arca: CRSH).
CRSH Overview
CRSH is an actively managed ETF that seeks to generate current income from a synthetic covered put strategy on Tesla, Inc. ("TSLA"), while providing indirect short exposure to the share price of TSLA.
CRSH's potential for gains from decreases in the share price of TSLA is limited, while its potential for losses resulting from increases in the share price of TSLA is up to 100%. CRSH does not invest directly in TSLA and does not directly short TSLA.
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Source: YieldMax
Westwood Announces Launch of Westwood Salient Enhanced Energy Income ETF (WEEI)
May 1, 2024--Westwood's Second ETF Rounds Out High-Yielding Investment Offerings for the Energy Sector
Westwood Holdings Group (WHG), a publicly-traded investment management boutique and wealth management firm, today launched the Westwood Salient Enhanced Energy Income ETF (NASDAQ: WEEI), the second Westwood Exchange-Traded-Fund (ETF).
Like its sister product, the Westwood Salient Enhanced Midstream Income ETF (NYSE: MDST), WEEI is an actively managed ETF crafted to provide advisors and investors with a robust solution for generating high distributable monthly income, combining dividend yield and options premiums from covered calls, while still offering the potential for equity appreciation within the energy sector. The Fund’s objective is current income and capital appreciation.
In contrast to MDST's exclusive midstream exposure, WEEI also offers exposure to a broad spectrum of energy companies including upstream, downstream, oil service and integrated companies that operate in all phases of oil exploration, production, service and distribution.
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Source: Westwood Holdings Group Inc
Calamos Launches S&P 500 Structured Alt Protection ETF-May (CPSM), Announces 9.81% Upside Cap Rate with 100% Downside Protection Over One Year
May 1, 2024--CPSM's 9.81% cap compares favorably with the 8%, 20-year average price return of the S&P 500.
The Calamos Structured Protection suite combines Calamos' decades-long alternatives and options investing expertise within the liquid, cost-effective, tax-efficient ETF structure.
Calamos Investments LLC ("Calamos"), a leading alternatives manager, today announced the launch of the Calamos S&P 500 Structured Alt Protection ETF-May (ticker: CPSM) with a 9.81% cap rate before fees and expenses from May 1, 2024 through April 30, 2025. CPSM marks the first of 12 ETFs in the Calamos Structured Protection ETFs series which will offer investors protected exposure to the S&P 500, Nasdaq-100 and Russell 2000.
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Source: Calamos Investments
DTCC rules out collateral for Bitcoin-linked ETFs
April 26, 2024--This notice means that exchange-traded funds and similar investment instruments with Bitcoin or other cryptocurrencies as underlying assets will not be assigned any collateral value.
The Depository Trust and Clearing Corporation (DTCC)-a financial services company that provides clearing and settlement services for the financial markets-stated that it will not allocate any collateral to exchange-traded funds (ETFs) with exposure to Bitcoin or cryptocurrencies and will not extend loans against them.
DTCC's announcement states that effective April 30, 2024, the DTCC will implement changes to collateral values for specific securities during its annual line-of-credit facility renewal, potentially affecting position values in the collateral monitor.
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Source: cointelegraph.com
US SEC expected to deny spot ether ETFs next month, industry sources say
April 25, 2024--U.S. issuers and other firms expect the Securities and Exchange Commission to deny their applications to launch exchange-traded funds (ETFs) tied to the price of ether after discouraging meetings with the agency in recent weeks, four people said.
VanEck, ARK Investment Management and seven other issuers have filed with the SEC to list ETFs that would track the spot price of the world's second-largest cryptocurrency after bitcoin. The SEC must decide on VanEck's and ARK's filings, which are first in line, by May 23 and May 24 respectively.
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Source: reuters.com
