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SEC rolls decisions on four bitcoin ETF applications to end of 2021
October 3, 2021--The Securities and Exchange Commission (SEC) punted on four bitcoin exchange-traded fund (ETF) applications today, shifting deadlines into late November and December.
Issuers Global X, Valkyrie, WisdomTree and Kryptoin all received extension on their proposals today.
The proposals are now slated to receive their decisions on Nov. 21, Dec. 8, Dec. 11 and Dec. 24, respectively. Kryptoin, WisdomTree and Valkyrie, have all faced previous extensions.
Each order notice read:
"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 in the comment letters that have been submitted in connection therewith."
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Source: theblockcrypto.com
Investors fled Cathie Wood's flagship fund in the 3rd quarter faster than any other on record
October 1, 2021--Investors poured out of Cathie Wood's flagship innovation ETF at the fastest quarterly pace on record, according to a new Bloomberg report.
The ARK Innovation ETF, also called ARKK, saw $1.97 billion in outflows in the third quarter, marking the steepest-ever move out of the fund since its 2014 launch.
The turbulent quarter for ARKK adds to a tough year for the popular tech-focused ETF.
Investors poured out of Cathie Wood's flagship innovation ETF at the fastest quarterly pace on record, according to a new Bloomberg report.
The ARK Innovation ETF, also called ARKK, saw $1.97 billion in outflows in the third quarter, marking the steepest-ever move out of the fund since its 2014 launch. Investors began to balk at ARKK in July, a trend that gained momentum throughout August and September.
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Source: markets.businessinsider.com
Innovator Completes International Equity Power Buffer ETFTM Suite and Adds to Accelerated ETFsTM Lineup with Listing of New October Defined Outcome ETFsTM
October 1, 202--"IOCT"- Innovator International Developed Power Buffer ETFTM- October: seeks to offer upside exposure to foreign developed markets stocks, via EFA, up to a cap, with a buffer against the first 15% of loss in EFA over annual outcome period
"EOCT"- Innovator Emerging Markets Power Buffer ETFTM- October: seeks to offer upside exposure to emerging markets stocks, via EEM, up to a cap, with a buffer against the first 15% of loss in EEM over annual outcome period
XDOC, XBOC, XTOC, QTOC: New Accelerated ETFsTM
Accelerated ETFsTM seek to offer a multiple (2x or 3x) of the upside of SPY or QQQ, to a cap, with approximately single exposure to the downside, with or without a buffer, over a one-year outcome period
Tools for potential wealth accumulation, Accelerated ETFsTM seek to enhance investors' equity performance potential to a cap without taking on additional downside risk
Innovator Capital Management, LLC (Innovator), the pioneer and provider of the largest lineup of Defined Outcome ETFsTM, today announced the completion of the firm's International Equity Power Buffer ETFTM suite as well as the expansion of the Innovator Accelerated ETFsTM, the world's first ETFs to seek to offer a multiple of the upside return of a reference asset (SPY1 or QQQ2), up to a cap, with approximately single exposure on the downside.
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Source: Innovator Capital Management
Innovator Announces New Upside Caps for October and Quarterly Defined Outcome ETFsTM
October 1, 2021--New upside caps for October Series of Domestic Equity Buffer ETFsTM: Power Buffer ETFsTM on QQQ (NOCT) and U.S. Small Caps (KOCT), as well as the flagship Innovator U.S. Equity Buffer ETFsTM-BOCT, POCT, UOCT- that seek to provide SPY exposure up to a cap, with downside buffer levels of 9%, 15% or 30% over one-year Outcome Period through 9.30.2022.
New Q4 caps announced for Innovator Defined Wealth Shield ETF (BALT) and Innovator 20+ Year Treasury Bond 5 Floor ETFTM (TFJL), quarterly resetting Defined Outcome ETFsTM
Quarterly outcome period Accelerated ETFsTM reset with new upside caps for Q4: XDSQ and XDQQ seek to offer 2x the return of SPY or QQQ, up to a cap, with 1x downside exposure through year-end
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Source: Innovator Capital Management
AllianzIM Launches New Buffered Outcome ETF With 6-Month Outcome Period
October 1, 2021--ETF offers new entry point and potential for enhanced risk mitigation amid market uncertainty
Allianz Investment Management LLC (AllianzIM), a wholly owned subsidiary of Allianz Life Insurance Company of North America (Allianz Life(R)), today launched a new buffered outcome ETF with a six-month outcome period: the AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF (NYSE: SIXO).
AllianzIM's new ETF seeks to match the returns of the S&P 500 Price Return Index up to a stated Cap, while providing downside risk mitigation through a Buffer against the first 10% of S&P 500 Price Return Index losses for SIXO over a six-month outcome period. SIXO seeks to meet its investment objective using flexible exchange (FLEX) options.
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Source: Allianz Investment Management LLC
Pacer ETFs Expands Structured Outcome Strategy ETFs With October Series
October 1, 2021--Firm makes final additions to the in-demand series with new buffers and caps
Pacer ETFs ("Pacer"), an ETF provider that offers strategy-driven, rules-based ETFs, announces the next addition to the Pacer Swan SOS ETF family with its October series. The launch includes: Pacer Swan SOS Conservative (October) ETF (PSCQ), Pacer Swan SOS Moderate (October) ETF (PSMO) and Pacer Swan SOS Flex (October) ETF (PSFO).
Starting today, these funds will offer specific buffers and caps lasting for a 12-month target-outcome period.
The Pacer Swan SOS ETF family, launched in December 2020, seeks to provide investors with exposure to market growth up to a specific cap, while simultaneously offering a built-in downside buffer based on current market conditions in the event of a market down cycle. Each ETF within the series comes with a varied structured outcome strategy, allowing investors to be deliberate in how they manage risk.
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Source: Pacer ETF
Direxion Launches New Daily 2X Leveraged ETF
Septemeber 30, 2021--First ETF to Provide 200% Exposure to FANG, and FANG-like, Stocks
Direxion launched the Direxion Daily Select Large Caps & FANGs Bull 2X Shares (Ticker: FNGG). The Fund seeks to achieve 200% of the daily performance of the ICE FANG 20 Index.
The ICE FANG 20 Index provides exposure to Facebook, Apple, Amazon, Netflix, Google, Microsoft and similar highly-traded growth stocks of technology and tech-enabled companies from the information technology, communication services and consumer discretionary sectors, for a total of 20. As of September 10, 2021, the Index constituents had a median total market capitalization of $155 billion, with total market capitalizations ranging from $44 billion to $2.5 trillion.
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Source: direxion.com
Avantis Investors Launches Value And Real Estate ETFs
September 30, 2021--As it celebrates its second anniversary, Avantis Investors(R), a $7 billion* investment offering from global asset manager American Century Investments(R), today announced the expansion of its investment capabilities with the launch of four new exchange traded funds (ETFs): Avantis(R) Emerging Markets Value ETF (AVES); Avantis(R) International Large Cap Value ETF (AVIV); Avantis(R) U.S. Large Cap Value ETF (AVLV); and Avantis(R) Real Estate ETF (AVRE).
Each vehicle, listed on the New York Stock Exchange (NYSE Arca, Inc.), relies on a proprietary systematic investment approach that combines the latest in financial science with common sense investment principles.
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Source: American Century Investments
ProShares Launches Three New Thematic ETFs Focused on Business Innovations
September 30, 2021--ProShares, a premier provider of ETFs, today announced the launch of three new thematic ETFs: ProShares S&P Kensho Smart Factories ETF (Ticker: MAKX), ProShares Big Data Refiners ETF (Ticker: DAT) and ProShares S&P Kensho Cleantech ETF (Ticker: CTEX).
"Each ETF is designed to offer investors exposure to a rapidly changing industry, from the automation of manufacturing, to enhanced analytics and big data processing, to powering the transition to clean energy," said ProShares CEO Michael L. Sapir. "We are pleased to expand our family of ETFs with these new funds."
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Source: ProShares
Federal Reserve Bank of NY-Climate Stress Testing
September 30, 2021--Climate change could impose systemic risks upon the financial sector, either via disruptions in economic activity resulting from the physical impacts of climate change or changes in policies as the economy transitions to a less carbon-intensive environment. We develop a stress testing procedure to test the resilience of financial institutions to climate-related risks.
Specifically, we introduce a measure called CRISK, systemic climate risk, which is the expected capital shortfall of a financial institution in a climate stress scenario. We use the measure to study the climate-related risk exposure of large global banks in the collapse of fossil-fuel prices in 2020.
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Source: newyorkfed.org
