Americas ETP News
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ETF Architect Announces Change to the Strive U.S. Energy ETF (NYSE: DRLL)
March 26, 2024--Effective on or about Thursday, April 11, 2024, the Strive U.S. Energy ETF (the "Fund") will undergo a change to its benchmark.
Current Benchmark: Solactive United States Energy Regulated Capped Index
New Benchmark: Bloomberg US Energy Select Index
The benchmark of the Fund will be moving to the Bloomberg US Energy Select Index (the "Index"), which measures the performance of U.S. oil and gas producers.
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Source: ETF Architect
Inspire Launches 9 Basis Point Faith-based ETF
March 26, 2024-- Inspire Investing, the world's largest provider of faith-based ETFs, has just launched a 0.09% expense ratio U.S. large cap fund, the Inspire 500 ETF [ticker: PTL], ushering in a new era of low cost investing for faith-based investors.
PTL is currently the lowest cost faith-based ETF available in the U.S. and is Inspire's ninth fund.
PTL tracks the Inspire 500 Index comprised of the largest 500 companies in the United States by market capitalization with positive biblical values alignment as determined by Inspire Impact Scores greater than or equal to zero.
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Source: Inspire Investing
Tidal and Hashdex Announce Trading of U.S. Spot Bitcoin ETF
March 26, 2024-- Hashdex Bitcoin ETF offers U.S. investors exposure to spot bitcoin following product conversion
Tidal Investments LLC ("Tidal” or the "Sponsor"), a leading name in the ETF industry, and Hashdex Asset Management Ltd. ("Hashdex"), a leading global crypto-focused asset manager, today announced the renaming of the Hashdex Bitcoin Futures ETF to the Hashdex Bitcoin ETF ("DEFI" or "Fund") (Ticker NYSE Arca: DEFI, CUSIP: 88634V100).
DEFI's renaming corresponds to DEFI's completion of the conversion of its investment strategy to allow the Fund to provide spot bitcoin holdings and its tracking of a new benchmark index effective March 27, 2024.
The Fund’s new benchmark index is the Nasdaq Bitcoin Reference Price-Settlement (NQBTCS), which better reflects the Fund’s new strategy of direct bitcoin investment. Going forward and under normal market conditions, the Fund’s investment policy is to maximize its holdings of physical bitcoin such that it is expected that at least 95% of the Fund's assets will be invested in spot bitcoin. Up to 5% of the Fund's remaining assets may be invested in CME-traded bitcoin futures contracts and in cash and cash equivalents.
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Source: Hashdex
Avantis Investors Launches New Active Emerging Markets ETF
March 21, 2024--Avantis Investors, a $40 billion* investment offering from global asset manager American Century Investments, expands its investment capabilities with the launch of a new exchange traded fund (ETF) today. Avantis Emerging Markets ex-China Equity ETF (AVXC) is now listed on the NASDAQ Exchange.
"We are excited about the debut of our latest ETF, AVXC, which marks our 28th active ETF launch since fall 2019," said Phil McInnis, chief investment strategist, Avantis Investors. "The continued adoption we see from investors across our range of offerings reinforces the belief we had when we started Avantis. Investors see value in low-cost, well-designed active strategies that combine the best elements of indexing with the potential to achieve better outcomes."
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Source: American Century Investments
Exchange Traded Concepts Announces Launch of BCIL ETF with Bancreek Capital Advisors
March 21, 2024--Exchange Traded Concepts is pleased to announce the launch of the Bancreek International Large Cap ETF (NYSE: BCIL). The Fund began trading on the New York Stock Exchange on 3/21/24.
This actively managed exchange-traded fund (ETF) seeks long-term capital appreciation by utilizing a rigorous, quantitative framework to invest in securities of large capitalization issuers outside of the United States.
Andrew Skatoff, Founder and CEO of Bancreek Capital Advisors, LLC, shares, "After the successful launch of our flagship ETF, Bancreek Large Cap U.S. ETF (NYSE: BCUS), we are thrilled to bring BCIL to the market. While BCUS focuses on U.S. listed companies, we believe there are also many wonderful businesses outside of the U.S. Unfortunately for investors, there are only a limited number of ETF options for the public to invest in a collection of these companies. With BCIL, we have deployed our proprietary framework and quantitative tools to make investing in structurally advantaged businesses outside the U.S. more accessible for investors."
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Source: Exchange Traded Concepts, LLC
Global X ETFs and CoinDesk Indices Launch First Bitcoin Trend Indicator in an ETF Wrapper
March 21, 2024--Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), in partnership with CoinDesk Indices, a market-leading provider of digital asset indices since 2014, today launched the Global X Bitcoin Trend Strategy ETF (Ticker: BTRN). BTRN is the first ETF to leverage the CoinDesk Bitcoin Trend Indicator ("BTI") signal.
Digital assets represent a compelling option for portfolio allocation as adoption rates increase and new use cases are implemented. Bitcoin is the largest digital asset by market capitalization and has one of the most robust user networks.ii
"BTRN was designed to help navigate various market cycles by providing dynamic exposure to bitcoin futures based on bitcoin's current price trend. The simple, yet powerful idea behind trend strategies is that markets respond slowly to news and changes.
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Source: Global X Management Company LLC
CBO-The Long-Term Budget Outlook: 2024 to 2054
March 20, 2024--The Federal Budget
The deficit increases significantly in relation to gross domestic product (GDP) over the next 30 years, reaching 8.5 percent of GDP in 2054. That growth results from rising interest costs and large and sustained primary deficits, which exclude net outlays for interest.
Primary deficits are especially large given the forecast of low unemployment rates; those deficits average 0.6 percentage points of GDP more over the next 30 years than they did over the past 50 years.
Debt held by the public, boosted by the large deficits, reaches its highest level ever in 2029 (measured as a percentage of GDP) and then continues to grow, reaching 166 percent of GDP in 2054 and remaining on track to increase thereafter. That mounting debt would slow economic growth, push up interest payments to foreign holders of U.S. debt, and pose significant risks to the fiscal and economic outlook; it could also cause lawmakers to feel more constrained in their policy choices.
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Source: cbo.gov
Global X ETFs launches First Fixed Income ETF in Colombia
March 20, 2024--March 20, 2024-- Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today announced that the firm has launched Colombia's first ever fixed income ETF-the Colombian Public Debt Stock ETF (GXTESCOL).
GXTESCOL provides investors with greater accessibility to the Colombian sovereign bond market in local currency.
The launch follows an evaluation process in which Global X ETFs was selected as the fund manager by the Colombian Ministry of Finance.
GXTESCOL seeks to offer greater accessibility to the Colombian sovereign bond market in local currency to investors while tracking the total return of the JPM GBI-EM Colombia Government Local Currency Bond Index. The fund will function as an Issue-Driven Exchange Traded Fund (ID ETF), a global initiative of the World Bank to support the development of domestic capital markets in emerging economies by collaborating with local partners and allowing local currency debt to be packaged into an ETF format. This fund will be denominated in Colombian pesos. In addition to selecting Global X ETFs as manager of the fund, the Colombian Ministry of Finance announced Fiducaria Bogota as administrator of the fund and J.P. Morgan as the provider of the fund's reference index.
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Source: Global X Management Company LLC
Grayscale amends Ethereum ETF filing, says investors 'want and deserve' the fund
March 16, 2024--Grayscale amended a regulatory filing through which it intends to convert its Ethereum Trust to a spot exchange-traded fund (ETF).
The company's March 15 amendment strengthens its earlier filing in multiple ways. The update supports the argument that surveillance sharing within the CME ETH market is sufficient to protect against fraud and manipulation in the spot ETH market.
Grayscale's latest amendment includes a correlation analysis conducted by Coinbase as evidence of sufficient market correlation. Coinbase found that the CME ETH futures market has been "consistently and highly correlated" with the spot Ethereum market for roughly the past three years.
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Source: cryptoslate.com
Subversive Capital Advisor Fund Closure Announcement
March 15, 2024--Subversive Capital Advisor LLC (the "Advisor" or the "Company"), a Registered Investment Advisor primarily focused on different mission-driven emerging sectors, announced today that it has recommended, and the Board of Trustees of Series Portfolios Trust (the "Trust") has approved, the termination and liquidation of the Subversive Decarbonization ETF ("DKRB"), Subversive Food Security ETF ("KCAL"), and Subversive Mental Health ETF ("SANE"), collectively (the "Funds") effective immediately after the close of business on March 28, 2024.
"While these strategies are gaining traction outside the US, they remain a small portion of the market domestically. Despite our efforts to capture investor interest with unique offerings, it's clear that the appetite for these strategies hasn't matched that of index ETFs or well-established institutional options." said Subversive's Portfolio Manager, Christian H. Cooper.
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Source: Subversive Capital Advisor LLC