Americas ETP News for the Past Year
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CBO-Monthly Budget Review: May 2024
June 10, 2024--Summary
The federal budget deficit was $1.2 trillion in the first eight months of fiscal year 2024, the Congressional Budget Office estimates-$38 billion more than the deficit recorded during the same period last fiscal year. Revenues were $294 billion (or 10 percent) higher and outlays were $332 billion (or 8 percent) higher from October through May than during the same period in fiscal year 2023.
Shifts in the timing of certain payments affect that comparison. Outlays in the first eight months of each fiscal year were reduced by shifts of some payments to September that otherwise would have been due on October 1, which fell on a weekend in both years. In addition, because June 1, 2024, fell on a weekend, outlays in the first eight months of 2024 were boosted by the shifting of payments into May 2024. Those amounts were larger than the amounts shifted from October to September 2023, increasing outlays, on net, in fiscal year 2024. If not for those timing shifts, the deficit so far in fiscal year 2024 would have been $46 billion less than the shortfall for the same period in fiscal year 2023.
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Source: cbo.gov
BlackRock Announces Product Updates
June 7, 2024--BlackRock has one of the most comprehensive and diverse investment platforms in the industry, providing investors with choice to meet their investment objectives. Investors are continuing to turn to BlackRock to unlock the full potential of their
portfolios, as reflected by $1.9 trillion of net inflows in the past five years globally.1
In the U.S., BlackRock offers over 600 mutual funds and ETFs for investors to access different market exposures.2 As we evolve our platform and launch new strategies, we also constantly assess the regulatory and operating environment as well as how our funds are meeting investors' investment objectives. Today, BlackRock is announcing the upcoming liquidation of 15 U.S.-domiciled mutual funds and ETFs.
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Source: ishares.com
ProShares Launches ETFs Targeting 2x and -2x Daily Ether Returns
June 7, 2024--ETHT targets 2x daily ether returns, while ETHD targets -2x daily ether returns and is the first ETF of its kind in the U.S.
ProShares, a premier provider of ETFs, has expanded its product lineup with today's launch of two pioneering ether-linked ETFs.
The ProShares Ultra Ether ETF (ETHT) targets 2x daily ether returns, while the ProShares UltraShort Ether ETF (ETHD) is the first U.S.-listed product to target -2x daily ether returns.
These products join ProShares' expansive lineup of crypto-linked ETFs, which is the largest in the U.S. by number of listings.
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Source: ProShares
2x ether ETF debuts in US before plain vanilla spot rivals
June 6, 2024--Leveraged and inverse products from Volatility Shares and ProShares get green light, while physically backed funds wait
US exchange traded fund investors can buy a fund offering two times the daily return of ether, but are still waiting for final approval of an ETF that actually invests in the world's second-largest cryptocurrency.
Volatility Shares launched the 2x Ether ETF (ETHU) on June 4, while ProShares, one of the largest providers of leveraged and inverse ETFs, said it expected ETFs offering twice the daily return of ether (ETHT) and twice the inverse daily ether return (ETHD) to list on the New York Stock Exchange on June 7.
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Source: ft.com
