A slate of companies are releasing or planning “Bitcoin adjacent” products that skirt U.S. regulators’ refusal to allow the largest cryptocurrency to be put in an exchange-traded fund wrapper.
The Invesco Nasdaq Biotechnology ETF (IBBQ) and Invesco PHLX Semiconductor ETF (SOXQ) will effectively cost nothing until Dec. 17, after which each will carry an expense ratio of 19 basis points.
In this week’s fund news, Morningstar provides a framework for climate change disclosures; T. Rowe launches fifth active ETF; and the space ETF UFO reminds investors 'unidentified aerial phenomena' may pose a risk.
More than a dozen municipal bond ETFs each gathered over $100 million of net inflows year to date, highlighting a diversity of popular offerings. The subcategory gathered $8.6 billion of new money and is on pace to exceed 2020’s flows.
Thematic funds also come out ahead; Bob Doll joins faith-based asset manager; State Street CIO retires; and Nuveen adds portfolio managers on both coasts.
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.