Investment

Investors poured about $1.25 billion into the BlackRock U.S. Carbon Transition Readiness ETF (LCTU) on Thursday, making it the biggest launch in the ETF industry’s three-decade history

Goldman Sachs plans to create the Future Consumer Equity exchange-traded fund, focusing on technology companies that embrace the “lifestyle and values” of younger consumers such as sustainable living, health and wellness.

“It’s even crazier than investing in crypto.”

In this week’s fund news, Grayscale hopes to convert its Bitcoin Trust into an ETF; Schwab joins the nontransparent active ETF game; and Invesco plans to integrate ESG into all its investments.

Two firms this week have filed to launch exchange-traded funds based around so-called blank-check companies.

Relative to the S&P 500, funds that track companies that meet ESG standards have more exposure to cyclical sectors than the broader industry.