Americas ETP News
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First Trust Announces Changes in Investment Strategies and Other Related Matters for First Trust Hedged BuyWrite Income ETF
May 6, 2022--First Trust Advisors L.P. ("FTA") announced today that First Trust Hedged BuyWrite Income ETF (Nasdaq: FTLB) (the "Fund"), a series of First Trust Exchange-Traded Fund VI (the "Trust"), will change its investment strategy ("New Strategy"), name and other related matters, effective May 11, 2022.
Although the Fund will continue to seek its current investment objective of current income, on May 11, 2022, the Fund will adopt an amended investment strategy that involves investing primarily in equity securities listed on U.S. exchanges and utilizing an "option strategy" consisting of writing (selling) U.S. exchange-traded call options on the Nasdaq-100 Index. Pursuant to the New Strategy, under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in the components of the Nasdaq Composite Index.
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Source: First Trust Advisors L.P.
Fed says banks in good shape despite volatility, warns on prime broker risk
May 6. 2022--The U.S. Federal Reserve said Friday the U.S. banking system remains strong despite heightened volatility and geopolitical risk, but cautioned them against prime brokerage services that come with heightened risk.
In its latest bank supervision report, the Fed offered an upbeat take on the strength of U.S. banks, noting they continue to enjoy robust capital and liquidity levels, and asset quality improved in the second half of 2021.
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Source: reuters.com
SEC approves Valkyrie's Bitcoin futures ETF
May 6, 2022--Last month, the watchdog gave the thumbs-up to Teucrium's Bitcoin futures ETF, which is the first such vehicle to be approved under the '33 Act.
The United States Securities and Exchange Commission (SEC) has given the green light to Valkyrie's futures exchange-traded fund (ETF) application.
This represents another ETF that has been approved by the SEC, which has previously accepted futures ETFs, but no sign of spot ETFs yet.
According to the SEC document published Thursday, the application was filed under the Securities Exchange Act of 1934 using a 19b-4 form, the same law that spot Bitcoin (BTC) ETF prospects are relying on - albeit with little success thus far.
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Source: cointelegraph.com
CBO-Monthly Budget Review: April 2022
May 9, 2022--Summary
The federal budget deficit was $360 billion in the first seven months of fiscal year 2022 (that is, from October 2021 through April 2022), the Congressional Budget Office estimates. That amount is about one-fifth of the $1.9 trillion shortfall recorded during the same period in 2021. Revenues were $843 billion (or 39 percent) higher and outlays were $729 billion (or 18 percent) lower than during the same period a year ago.
Receipts collected through April 2022 were significantly greater than CBO estimated when it last published baseline projections in July 2021. On the basis of collections so far this year, revenues in 2022 are likely to total between $400 billion and $500 billion more than CBO anticipated last summer. That increase stems mainly from larger-than-anticipated payments of individual income taxes, payroll taxes, and corporate income taxes for calendar year 2021. The reasons for the difference will be better understood as additional information becomes available, but may reflect stronger-than-expected income growth throughout 2021 and so far in 2022.
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Source: CBO (Congressional Budget Office)
Sparks fly in battle for control of WisdomTree
May 6, 2022--Negotiations over future of US asset manager break down in acrimonious public dispute
WisdomTree has hit back at an attempt by Graham Tuckwell, its largest shareholder, to oust its chief executive with a sharply worded statement suggesting any rapprochement between the two parties is unlikely.
Tuckwell, the driving force behind the world's first gold exchange traded fund, teamed up earlier this year with Lion Point, an activist hedge fund, in an effort to force Jonathan Steinberg to step down from his role as CEO of the underperforming $79.4bn US asset manager.
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Source: ft.com
Zero chance' of US approving spot bitcoin ETF in 2022'-VanEck
May 5, 2022-- Issuer that had crypto ETF rejected by SEC says nothing will happen until regulators finish turf war
There is "probably zero chance" of the US Securities and Exchange Commission (SEC) allowing an asset manager to issue an exchange-traded fund (ETF) that tracks the price of bitcoin this year, according to one of the companies that has had an application to run a crypto fund rejected by the regulator.
American investors will have to wait until at least 2023 for a spot bitcoin ETF because the SEC is fighting the Commodity Futures Trading Commission (CFTC) for the right to regulate
A HREF="https://www.risk.net/investing/7948021/zero-chance-of-us-approving-spot-bitcoin-etf-in-2022-vaneck" TARGET="_blank">view more
Source: risk.net
Merk Investments Launches STGF: The Merk Stagflation ETF
May 4, 2022--STGF is a one-click inflation hedge ETF
Merk Investments launches the Merk Stagflation ETF. The ETF will trade on the NYSE Arca under the symbol "STGF." The Merk Stagflation ETF (STGF) provides investors with exposure to investments that are expected to benefit, either directly or indirectly, from persistent inflation, including in an environment of weak economic growth (stagflation).
The Merk Stagflation ETF (ticker: STGF) seeks to track the Solactive Stagflation Index, which in turn seeks to track the performance of components that are expected to benefit, either directly or indirectly, from persistent inflation, including in an environment of weak economic growth (stagflation).
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Source: Merk Investments LLC
SEI Adds Suite of Tax-Sensitive Strategies Featuring Capital Group ETFs and American Funds
May 4, 2022--New Solutions Deliver Enhanced Tax Efficiency and Investment Flexibility
SEI (NASDAQ: SEIC) today announced it has expanded its suite of models featuring Capital Group exchange traded funds (ETFs) and American Funds mutual funds to include 12 new tax-sensitive solutions.
The new solutions support independent advisors' ability to deliver goals-based, personalized wealth management through the SEI Wealth PlatformSM (SWP).
The SEI Strategies featuring the American Funds launched in 2020 and offer a diversified selection of portfolios allocated across regions, risk tolerances, and investment objectives.
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Source: SEI Investments Company
J.P. Morgan Asset Management Expands ETF Lineup: JPMorgan Nasdaq Equity Premium Income ETF (JEPQ)
May 4, 2022--JPMAM's first ETF to invest primarily in the equity securities of large cap companies listed on The Nasdaq Stock Market
J.P. Morgan Asset Management today announced the launch of JPMorgan Nasdaq Equity Premium Income ETF (JEPQ), the firm's first ETF to list on The Nasdaq Stock Market.
The active equity ETF seeks to deliver an attractive distributable yield while also delivering a significant portion of the returns associated with the fund's primary benchmark, the Nasdaq-100 Index, with less volatility.
JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) will be comprised of a portfolio of equity securities of large cap companies included in the Nasdaq-100 Index and will incorporate an options strategy to generate income while lowering the volatility of the overall portfolio.
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Source: J.P. Morgan Asset Management
SEC Nearly Doubles Size of Enforcement's Crypto Assets and Cyber Unit
May 3, 2022--The Securities and Exchange Commission today announced the allocation of 20 additional positions to the unit responsible for protecting investors in crypto markets and from cyber-related threats. The newly renamed Crypto Assets and Cyber Unit (formerly known as the Cyber Unit) in the Division of Enforcement will grow to 50 dedicated positions.
"The U.S. has the greatest capital markets because investors have faith in them, and as more investors access the crypto markets, it is increasingly important to dedicate more resources to protecting them," said SEC Chair Gary Gensler. "The Division of Enforcement's Crypto Assets and Cyber Unit has successfully brought dozens of cases against those seeking to take advantage of investors in crypto markets. By nearly doubling the size of this key unit, the SEC will be better equipped to police wrongdoing in the crypto markets while continuing to identify disclosure and controls issues with respect to cybersecurity."
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Source: SEC.gov
