Investors pull $1.5bn from bond ETFs in January
With bond yields rising and prices falling, many investors are leavings bonds, resulting in net outflows of $1.5bn from fixed income ETFs.
Cannabis ETFs have been smoking hot as of late
Since Jan 31st:
- The AdvisorShares Pure US Cannabis ETF (MSOS) is up over 22%
- The ETFMG Alternative Harvest ETF (MJ) is up nearly 14%
- AdvisorShares’ Pure Cannabis ETF (YOLO) is up about 16.5%
Goldman Sachs launches clean energy ETF
Goldman Sachs announced the launch of the Bloomberg Clean Energy Equity ETF — set to trade under the ticker GCLN. The fund was created by Goldman Sachs Asset Management and energy sector specialists at Bloomberg. It will track companies with the greatest exposure to the clean energy transition.
AdvisorShares Launches an ETF that runs off of AI
The Let Bob AI Powered Momentum ETF (LETB), began trading on the NYSE on Wednesday. It’s considered a core equity position that also seeks to reduce market risk exposure. LETB invests in U.S. large-, mid-, and small-cap equities. The holdings are selected based on modern artificial intelligence capabilities. The algo if you will, blends both fundamental sentiment momentum with technical price momentum to actively manage the portfolio. “We are excited to partner with Anthony Buchanan and Let Bob’s cutting-edge investment technology to deliver this innovative equity ETF to the marketplace,” Noah Hamman, chief executive officer of AdvisorShares, said in a statement. “We feel LETB provides a compelling, risk-managed investment solution for advisors and investors to consider for their equity allocation of an overall portfolio.”
New York sets record for Mobile Sports Betting in the first month
According to the New York Gaming Commission in the month of January New York had roughly $1.62 billion in sports bets from Jan. 8th-30th. This is more than double what Arizona did for its launch at $777 million.
Harbor Capital Advisors Launches Long-Term Growers ETF
Harbor Long-Term Growers ETF (WINN) is a transparent, actively managed strategy that seeks long-term growth of capital and is managed by Jennison Associates (Jennison).
“We recognize that there is demand for a growth offering that is transparent, convenient, and familiar for the current generation of investors and highly relevant for the next generation,” said Charles F. McCain, CEO. “We are excited to extend our partnership with Jennison and bring this new option to market for advisers and retail investors seeking long-term growth of capital.”
Grayscale Launches First Equity ETF
Grayscale, which is owned by Digital Currency Group, has launched its first equity exchange-traded fund (ETF) tracking the Bloomberg Grayscale Future of Finance (BGFOF) index. The fund will be administered by US Bank.
Fidelity entering the Metaverse
Fidelity filed an application with the Securities and Exchange Commission on Friday for an exchange-traded fund called the Fidelity Metaverse Index ETF. From their SEC filing, the actively managed fund, will be focused on companies that “develop, manufacture, distribute or sell products and services relating to enabling the metaverse.”
Worlds First DeFI ETF set to launch in Brazil next week
The fund is called the Hashdex DeFi Index ETF. It will list on the Brazilian stock exchange on February 17. “By offering the first DeFi ETF in the world, we are providing our global investors with the ability to play a part in the next evolution of the crypto ecosystem,” said Marcelo Sampaio, chief executive of Hashdex, a Brazilian crypto asset manager.
