[03/12/24] First Leveraged Bitcoin ETF Nears $1B

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WEEKLY ROUNDUP OF ETF FILINGS, LAUNCHES & CLOSURES

Despite a top-line figure suggesting otherwise, U.S. February jobs data released Friday offered the latest signs that the employment market may finally be cooling.

The Labor Department reported that although employers added 275,000 jobs, nearly 40% more than expected, unemployment ticked up to 3.9% from 3.7% in January—its highest level since early 2022. Labor also revised its January jobs figure, slashing it almost in half to 229,000.

Investors shrugged with the S&P 500 and Nasdaq dipping 0.6% and 1.2% on Friday.?

In recent months, markets have jumped in response to dips in jobs data suggesting that the economy was losing steam and that wage growth, which fuels inflation, was slowing. Over the past two years, high inflation has spooked investors who have fretted that hawkish central bank policy would eventually undermine the economy.

Bad job news has equated to good news, but for at least the past couple of trading days, bad news may be just that.

This morning’s Consumer Price Index (CPI) will offer the next inflation glimpse. February’s CPI disappointed, rising higher than expectations. A rejoining of the steady downward trend that preceded it would likely find a welcoming audience.

By James Rubin

Below is a roundup of the key developments in the ETF industry for the seven-day period ending March 8, 2024:??

First Leveraged Bitcoin ETF Nears $1B in Assets ?BITX's price has more than doubled this year.

BlackRock’s Target Date ETFs Aim for $3T Market ?BlackRock’s Prince talks about the firm’s new ETFs and their other active funds.

BlackRock Buys SpiderRock for SMA Buildout ?The deal will ramp up BlackRock’s Wealth Advisory business.

Bitcoin Price Hits Record $69K as Spot ETF Flows Surge ?Demand for spot bitcoin ETFs and institutional investor interest in crypto help push prices higher.

Wood's ARK Plans Launch of 3 Active ETFs in Europe ?Among the funds will be a European version of ARK's flagship ARKK ETF, company officials say.

Featured Fund

Volatility Shares 2X Bitcoin Strategy ETF (BITX)

BITX aims to provide 2x daily exposure to bitcoin futures. The fund seeks to track the price movement of bitcoin futures traded on the CME Futures Exchange for a single day. The fund buys cash-settled Bitcoin futures contracts and will roll the contracts on a monthly basis, as they near expiration.

WHAT TO WATCH

Advisors Can Take Their ETF Skills to the Next Level with Arbitrage Combining long and inverse ETFs can help a portfolio generate good returns with lower volatility.?Read More

Is Bitcoin a Better Hedge Than Gold? Financial advisors debate the value of old and new diversification tools.?Read More

Personalizing Model Portfolios: Looking beyond traditional diversification *

Advisors Favoring Dividend ETFs May Not Like What Happens Next Yield-reaching could be risky for a while. This article is part of etf.com 's Dividend Content Series.?Read More

BlackRock Spot Ether ETF Again Delayed by SEC The agency is seeking public comment on BlackRock's application to launch its second spot crypto fund.?Read More

AI Webinar at 2 PM ET Today Industry experts join etf.com today to discuss how AI is revolutionizing traditional asset management practices. Register here and receive 1 CE credit for attending.?Register Now

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PODCAST

Target date ETFs are big in the mutual fund world. They have nearly $3 trillion in assets under management and are used widely by investors planning for retirement.

But they haven’t yet caught on in the exchange-traded fund world. BlackRock hopes to change that with its suite of target date ETFs which launched late last year.

In this episode of Exchange Traded Fridays , Danny Prince, U.S. head of iShares product consulting, discusses BlackRock’s target date ETFs, as well as some of the company’s other active ETFs.?Listen Now

LISTEN ON: Apple Podcast | Spotify | Google | YouTube

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VIDEO

You can now invest in electricity through ETFs, but should you? The CNIC ICE US Carbon Neutral Power Futures Index ETF (AMPD) is the first U.S.-listed exchange-traded fund to offer direct exposure to the power market, and according to Timothy Kramer, CEO of CNIC Funds, there are a lot of compelling reasons to consider the fund. In this episode of Talk ETFs , Kramer sits down with etf.com senior analyst Sumit Roy to discuss his bullish thesis.?Watch Now | YouTube

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