Every week we highlight the most timely exchange-traded fund news, from new launches to inflows and performance.
Hello there! This is the final ETF Wrap of November, as we won’t publish one, on Thursday’s Turkey Day. Still, we’ve got some good bits on the exchange-traded fund industry this week to tide readers over, including a few new launches.In any case, send tips, or feedback, and find me on Twitter at @mdecambre or LinkedIn, as some of you are wont to do, to tell me what we need to be jumping on.
Dimensional manages about $653 billion overall, including $120 billion in fixed income, Bloomberg wrote. Beyond fixed, income Rosenbluth writes that an estimated 98% of equity ETFs offered by providers iShares, State Street Global Advisors, and Vanguard will pass along zero capital gains to existing shareholders in 2021, consistent with 2020 levels.Rosenbluth said that it is important to highlight utility of ETFs from a tax perspective, particularly, amid legislative rumblings that proposed to do away with ETFs’ tax benefits.
High stakes bet on cannabis? MarketWatch’s Steve Gelsi writes that AdvisorShares and Poseidon longtime cannabis investor Poseidon Investment Management have launched an actively managed ETF aimed at providing individual investors access to U.S. cannabis companies barred from trading directly on the New York Stock Exchange or the Nasdaq.
The good…and the badA bad week for ProShares The bitcoin futures ETF run by ProShares was one of the worst performing ETFs among those that ETF Wrap screens for, and that’s not surprising considering the decline that bitcoin BTCUSD, -3.27% is down 10% so far this week. The ProShares Bitcoin Strategy ETF BITO, -3.80% still boasts assets of $1.26 billion, compared with its rivals.
Bitcoin prices are around $57,000, up 5.6% on CoinDesk and Ether ETHUSD, -4.19% on the Ethereum network, was trading at $3,995, down 6%.
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