It's often said that software has eaten the world, but it's not the only investible asset. Some argue that hard assets like real estate are an important diversifier. Join us Thursday at 1:10 PM ET on ETF Edge when our guest will be Dan Foley, CBRE Portfolio Manager for the newly launched the IQ CBRE Real Assets ETF (IQRA), an actively managed equity strategy that invests globally in companies tied to real assets, such as infrastructure and real estate. Also joining Dan is Tom Lydon, VettaFi Vice Chairman.
BlackRock makes big crypto push. The world's largest asset manager is delving deeper into crypto by filing an application for a spot bitcoin ETF. BlackRock already launched a private spot bitcoin trust last year – but this new ETF would mark the expansion of its partnership with embattled crypto exchange Coinbase, who would serve as the fund's custodian. After a string of bad news for the crypto bulls, from FTX's collapse to back-to-back lawsuits against Binance and Coinbase, could this be the shot in the arm the crypto bulls have been waiting for?
Rowe Price is going transparent. The company just launched a suite of five new active transparent ETFs that will reveal their holdings on a daily basis. The new funds are focused on equities tied to factors like growth, value and mid-cap strategies. And most are priced below 40 basis points. Right now, T. Rowe Price has roughly $1 billion in total ETF assets under management, and this will mark the debut of fully transparent active equity ETFs from the firm.
Cathie Wood warms back up to Meta. ARK CEO Cathie Wood is snatching up shares of Meta for the first time since 2021. Two of her ETFs – her flagship ARK Innovation ETF (ARKK) and her ARK Next Generation Internet ETF (ARKW) – scooped up shares again on Tuesday. At the same time, both funds sold some of their Tesla holdings, though the EV maker still remains the largest position in each. Shares of Meta have skyrocketed more than 130% so far this year.
Investors are playing catchup with bets beyond tech. Markets have enjoyed a bout of fresh breadth lately, and many Wall Street pros are betting the gains will continue to broaden out. Small caps and equal-weight trades are finally getting some love – with the iShares Russell 2000 ETF (IWM) attracting inflows of roughly $4 billion so far in June. By the same token, the Invesco S&P 500 Equal Weight ETF (RSP) has taken in more than $1.8 billion in inflows this month. Both funds provide investors with a way to get broad exposure to the market and reduce the impact of names like Nvidia and Alphabet in their portfolios.
Defiance betting big on EV boom. With global EV sales expected to surge 35% this year, Defiance ETFs is now offering investors a way to get pureplay exposure to the red-hot EV market. The firm just rolled out its Defiance Pure Electric Vehicle ETF (EVXX) – which will invest in the top five largest electric-only vehicle makers and will track an equal-weighted index of the companies using swaps. Top holdings include Tesla, Nio, Rivian and Li Auto.
Amplify to acquire ETFMG. In deal news this week, Amplify ETFs is acquiring ETF Managers Group's line of ETFs – doubling its product line. "ETFMG has created an impressive roster of strategies and we are excited to acquire its ETFs as these strategies align well with our commitment to being at the forefront of ETF industry growth and innovation," said Christian Magoon, CEO and Founder of Amplify ETFs. "We look forward to expanding the access and awareness of this compelling and differentiated product set." The transaction is expected to close later this year pending necessary approvals. Terms of the deal were not disclosed.
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