[11/07/23] Fresh Options for the Crypto-Curious Investor

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WEEKLY ROUNDUP OF ETF FILINGS, LAUNCHES & CLOSURES

While investors await the hoped-for approval of spot bitcoin exchange-traded funds by the Securities and Exchange Commission, crypto-curious ETF investors were given fresh options last week.

ProShares debuted the first ETF that allows investors to bet against future gains in ether, the second-largest cryptocurrency after bitcoin.

Regarding spot bitcoin ETFs, Steven McClurg, the chief investment officer of Valkyrie, expects approval to come by the end of this month. A spot bitcoin fund would hold the asset directly rather than using futures to track its price, as current bitcoin ETFs do. Valkyrie has its own spot bitcoin ETF application pending with the SEC.

Training our lens on another hot area of the ETF universe, investors are enthusiastically scooping up covered-call options ETFs this year judging by the inflows into the JPMorgan Equity Premium Income ETF (JEPI).? Those funds write call options based on an asset to generate income or hedge against losses.?

Crypto and covered call converged last week when Roundhill Investments filed to launch the first covered call bitcoin ETF.

By Gabe Alpert

Below is a roundup of the key developments in the ETF industry during the week ending Nov. 3, 2023:?

China ETF CGRO Takes “America-First” Approach to ESG The fund targets investors who shun China's geopolitics.

ProShares Debuts ETF That Bets Against Surging Ether Short ether crypto price comes as ether futures funds gather paltry inflows.

Roundhill Bitcoin ETF Takes a Page from JEPI Playbook Rising demand for covered call funds finds its way to volatile bitcoin futures contracts.

Active ETFs Ring Up Record Year The number of launches of actively managed funds is already at a new high with two months still remaining in 2023.

FEATURED FUND

Dimensional U.S. Core Equity 2 ETF (DFAC)

The fund seeks to track a market-cap-weighted portfolio that provides total market exposure to the US equity space.

WHAT TO WATCH

Valkyrie Exec Sees Spot Bitcoin ETF Approval This Month BTF issuer’s CIO McClurg says November approval means February fund launch.?Read More

TLT’s Rare Billion Dollar Outflow Day $1.1b was pulled from the popular fund Oct. 27, barely denting this year’s $20b haul.?Read More

10 Most Terrifying ETF Returns of 2023 From carbon offsets to cannabis, these funds have produced scary performance in 2023.?Read More

Upcoming Webinar: Model portfolios serve as a valuable tool for financial advisors. Join etf.com, MSCI, and BlackRock experts to discuss market Insights and demand drivers on November 9 at 2:00 PM ET. Register Now!

PODCAST

Scott Acheychek, CEO of REX Shares, sits down with etf.com senior analyst Sumit Roy and etf.com wealth management editor Jeff Benjamin to discuss the investment case for the REX FANG & Innovation Equity Premium Income ETF (FEPI), a new covered call ETF focused on big tech stocks. In this episode of Exchange Traded Fridays, Acheychek also touches on his firm’s four new single-stock ETFs tied to Tesla and Nvidia, as well as what new product launches could be in store.?Listen Now

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VIDEO

Ray Di Bernardo, Portfolio Manager at Madison Investments, has been managing covered call strategies for over a decade—well before the launch of the highly-popular JPMorgan Equity Premium Income ETF (JEPI). In this episode of Talk ETFs, Bernardo sits down with etf.com Senior Analyst Sumit Roy to discuss the Madison Covered Call ETF (CVRD), the exchange-traded fund version of the mutual fund he’s been managing since 2009. What makes CVRD different than JEPI and other covered call competitors??Watch Now | YouTube

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