Americas ETP News
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Fed Is Among the Biggest Winners From Its Foray Into Credit ETFs
June 3, 2021--Central bank made $140 million off $8.6 billion of ETFs: Citi
Fed's purchases were concentrated in high-grade bond ETFs
Staving off the collapse of the financial system came with an added bonus for the Federal Reserve: A tidy profit.
The U.S. central bank accumulated roughly $8.6 billion worth of bond exchange-traded funds in 2020 as it worked to backstop markets amid a quickly descending pandemic. Now, as the Fed prepares to unwind its holdings on June 7, it's sitting on a gain of $140 million from the price appreciation alone, according to Citigroup Inc.
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Source: bloomberg.com
SEC delays decision on WisdomTree's proposed bitcoin ETF
June 2, 2021--The Securities and Exchange Commission last week delayed its decision on whether Cboe bZx will be able to list WisdomTree's proposed bitcoin ETF.
On May 26, the SEC announced that it would be pushing back its decision on the listing from May 30 to July 14 "so that it has sufficient time to consider the proposed rule change and the comments received."
The rule change itself is simply to allow listing of WisdomTree Bitcoin Trust or BTCW. WisdomTree filed a prospectus with the SEC on March 11, while the Cboe proposed the rule change on March 26.
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Source: theblockcrypto.com
Fed says it will start unwinding its corporate bond holdings
June 2, 2021--The Federal Reserve will begin to unwind the corporate bond holdings it acquired last year through an emergency lending facility launched to calm credit markets at the height of the pandemic, the central bank announced on Wednesday.
The Fed said the sale of its holdings in the Secondary Market Corporate Credit Facility, which includes corporate bonds purchased in the secondary market and exchange-traded funds that invest in corporate bonds, will be "gradual and orderly."
A Fed official said the decision to wind down the corporate credit facility was unrelated to monetary policy.
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Source: reuters.com
Approval of a bitcoin ETF might take longer than expected as SEC Chairman expresses caution
June 1, 2021--The approval of a bitcoin ETF could take a lot longer than some might have hoped for.
Several bitcoin ETF applications are currently under review by the SEC, but Chairman Gary Gensler has expressed caution.
"There are many challenges and gaps for investor protection in [crypto] markets," Gensler told Congress last week.
Investors and fund managers are longing for the Securities and Exchange Commission's approval of a bitcoin ETF, but recent comments from Chairman Gary Gensler suggest they best not hold their breath.
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Source: markets.businessinsider.com
Brazil economy rebounds to pre-pandemic level, pointing to brighter 2021
Jamie Mcgeever
June 1, 2021--Brazil's economy grew by 1.2% in the first quarter, data showed on Tuesday, faster than economists had expected as rebounding services and investments took Latin America's largest economy back to is size at the end of 2019, before the pandemic hit.
It was the third consecutive quarter of growth. While the rebound has slowed, underlying figures suggest strong foundations for a continued recovery, prompting upward revisions to full-year forecasts and a surge in Brazil's currency.
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Source: reuters.com
Colombia and the World Bank sign an agreement to support the development of a sovereign debt Exchange Traded Fund in the local bond market
May 28, 2021--The Ministry of Finance and Public Credit of Colombia and the World Bank signed a collaboration agreement, taking the first step towards launching the Issuer-Driven Exchange Traded Fund (ID ETF) program.
The ID ETF program is a global initiative designed by the World Bank to support the development of domestic bond markets and increase the financial stability in emerging market economies. The ID ETF also aims to democratize access to capital markets and increase competitiveness with financial services.
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Source: worldbank.org
Putnam Investments Launches Firm's First Active ETFs
May 26, 2021--New ETFs Deploy Putnam's Proven ESG and Large-Cap Equity Strategies
Putnam Investments today announced the debut of its first actively managed exchange-traded funds (ETFs), which are based on four of the firm's leading equity strategies.
The new ETFs-Putnam Sustainable Leaders ETF (PLDR), Putnam Sustainable Future ETF (PFUT), Putnam Focused Large Cap Growth ETF (PGRO), and Putnam Focused Large Cap Value ETF (PVAL)- begin trading today on the New York Stock Exchange.
The new offerings represent the first ETF products from the company, which currently provides an array of retail mutual funds, separately managed accounts, collective investment trusts, private funds and non-U.S. funds.
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Source: Putnam Investments
FOMO ETF to Launch on Cboe Global Markets
May 25, 2021--Portfolio Offers Investors a Way to Avoid Missing Out on Market Trends
FOMO ETF (Cboe: FOMO) will start trading on Cboe today. FOMO offers investors the chance to invest in current market trends.
"The problem with most thematic ETFs is they only invest in one area of the market, they don't rebalance frequently enough to stay in harmony with what is going on in markets, and they tend to be too highly concentrated," says Matthew Tuttle, Chief Executive Officer and Chief Investment Officer of Tuttle Capital Management LLC ("TCM"), who serves as the Adviser to FOMO. "FOMO can shift exposure to whatever happens to be trending at the time, it rebalances weekly so it can stay in harmony with market trends, and it weights holdings appropriately."
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Source: Tuttle Capital Management
Asset Manager One River Files for Carbon-Neutral Bitcoin ETF in US
May 25, 2021--The ETF would buy and dispose of blockchain-based carbon credit tokens to account for the emissions associated with its bitcoin holdings.
One River Digital Asset Management has filed with the U.S. Securities and Exchange Commission (SEC) for a bitcoin exchange-traded fund (ETF) that would be carbon neutral.
According to the S-1 filing, submitted on Monday, the One River Carbon Neutral Bitcoin Trust would be listed on the New York Stock Exchange and would buy and dispose of carbon credits to account for the emissions associated with the bitcoin in the fund.
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Source: coindesk.com
iShares Transportation ETF shifts to market capital weighting
May 19, 2021--The shift will bring transport stocks such as Uber and Lyft into the portfolio for the first time.
iShares Transportation Average ETF (IYT), the world's largest transport-focused exchange-traded fund worth $2.2bn, will now be weighing stocks based on their market capitalization rather than on share prices.
iShares, which was launched in 1896, is the world’s oldest stock market index and tracked the Dow Jones Transportation Average Index. However, BlackRock, the owner of iShares, has decided to make the shift to capital market indicators to the S&P Transportation Select Industry FMC Capped Index.
The shift will bring transport stocks such as Uber and Lyft into the portfolio for the first time, alongside its traditional railroad, airlines, logistics and trucking companies. The switch is scheduled to take place from mid-July.
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Source: industryleadersmagazine.com
