[01/02/24] All Eyes on Spot Bitcoin ETF Decision

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WEEKLY ROUNDUP OF ETF FILINGS, LAUNCHES & CLOSURES

Holidays are meant for to be spent disconnected from work and finances, perhaps baking cookies and enjoying time with friends.

Not so much for cryptocurrency investors, who instead appear to be sticking to their terminals, searching for news about the spot bitcoin ETF that the SEC is set to approve or deny by Jan. 10.

In anticipation, Cathie Wood’s ARK sold its holdings of the Grayscale Bitcoin Trust (GBTC), and purchased shares of the ProShares Bitcoin Strategy ETF (BITO), the biggest bitcoin futures ETF. Why? An approved product is a better cushion than an unapproved ETF conversion, Wood told Bloomberg TV on Thursday.

TCW, the asset management giant that recently acquired activist investing ETF platform Engine No. 1, is looking to convert two of its flagship mutual funds into ETFs. The fund issuer filed with the SEC to convert its TCW Artificial Intelligence Equity Fund?into the TCW Artificial Intelligence ETF and its?TCW New America Premier Equities Fund into the “TCW Compounders ETF,” according to the SEC filing.

By Lucy Brewster

Below is a roundup of the key developments in the ETF industry during the week ending Dec. 29, 2023:?

TCW Files to Convert 2 Mutual Funds into ETFs One fund focuses on artificial intelligence, the other on innovations in technology.

ProShares Unveils Novel Daily Covered-Call ETF The fund tracks the S&P 500 Daily Covered Call Index.

ARK Sells GBTC Before Spot Bitcoin Decision The SEC faces a Jan. 10 deadline to approve Ark’s “spotcoin.”

Top Emerging Markets ETFs This Year While technology led much of the stock market's gains, emerging markets weren't left in the dust in 2023.

Crypto Stock ETFs Outperform Bitcoin in 2023 BITQ performance beats bitcoin and is far ahead of BITO in 2023.

Featured Fund

ARK Innovation ETF (ARKK)

ARKK is an actively managed fund that seeks long-term capital growth from companies globally involved with, or that benefit from, disruptive innovation.

WHAT TO WATCH

13 Issuers Ready for Spot Bitcoin ETF Launch See who’s filed for a spot bitcoin ETF and when launch is expected. Read More

3 Small ETFs that Performed Like QQQ in 2023 While the big Invesco ETF grabbed headlines, these lesser-known funds proved they are worthy of a look. Read More

BlackRock’s Laipply: 6 ETFs for Putting Cash to Work BlackRock’s co-head of bond ETFs maps out fixed-income options for soft or hard landing scenarios. Read More

Criteria for etf.com Awards Nominations Any U.S. listed fund/issuer can be nominated for multiple awards as long as it meets the criteria of the category. Self-nominations are also accepted. Nominate Here

PODCAST

The RiverNorth Patriot ETF (FLDZ) is one of the most interesting exchange-traded funds on the market—it donates all its profits to Folds of Honor, a 501(c)(3) non-profit organization that provides educational scholarships to the families of military members and first responders who have fallen or been disabled while on active duty.

In this episode of Exchange Traded Fridays, Patrick Galley, chief executive officer and chief investment officer at RiverNorth, discusses the origins of FLDZ and its benevolent mission.?Listen Now

LISTEN ON: Apple Podcast | Spotify | Google | YouTube

VIDEO

The Red Sea is in crisis after terrorist attacks on shipping vessels caused a massive rejiggering of trade routes. Shipping prices exploded to the upside, fueling gains for shipping-related exchange-traded funds. Is this a short-term move or does this rally have legs? In this episode of Talk ETFs, John Kartsonas, managing partner of Breakwave Advisors, sits down with etf.com senior analyst Sumit Roy to discuss the outlook for the shipping industry. Watch Now | YouTube

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