Americas ETP News
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U.S. Authorities Probing Deutsche Bank's DWS Over Sustainability Claims
August 25, 2021--Investigation by Justice Department, SEC follow allegations from ex-sustainability chief that firm overstated efforts on environment, other issues
U.S. authorities are investigating Deutsche Bank AG's asset-management arm, DWS Group, after the firm's former head of sustainability said it overstated how much it used sustainable investing criteria to manage its assets, according to people familiar with the matter.
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Source: wsj.com
The Future Fund Launches New Active ETF
August 24, 2021--The Future Fund Active ETF (FFND) offers the opportunity to invest in innovative businesses that change the world.
The Future Fund LLC, an SEC-registered investment advisor, launched its first ETF, The Future Fund Active ETF. The fund, ticker FFND, begins trading today, and seeks to provide capital appreciation.
Gary Black, managing partner, and David Kalis, CFA, partner, have teamed up for a second time to bring the ETF to investors. Each has held portfolio management and investment research positions at some of the most well-known firms in the industry. Together, they have more than 50 years of experience managing portfolios for clients.
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Source: The Future Fund LLC
Tiny Issuer Thinks It Just Got the Edge in Race for Bitcoin ETF
August 24, 2021--Valkyrie Investments reckons it just vaulted to the front of the queue for approval from the Securities and Exchange Commission for the first U.S. Bitcoin exchange-traded fund thanks to a quirk that allows smaller issuers to file confidentially for new offerings.
The Nashville, Tennessee-based firm two months ago sought regulatory permission for a futures-based fund, likely the first company to do so before an onslaught by others following positive comments on the structure by the SEC. The request was revealed Tuesday after the Nasdaq exchange, where the Valkyrie XBTO Bitcoin Futures Fund would be listed, filed a response to the SEC.
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Source: bloomberg.com
Coinbase slammed for what users say is terrible customer service after hackers drain their accounts
August 24, 2021--CNBC interviewed Coinbase users across the country and found thousands of customer complaints against the company.
The interviews and complaints revealed a pattern of account takeovers, where users see money suddenly vanish from their account, followed by poor customer service from the company.
Coinbase's customer service has been primarily via email, and many customers say it is hard to reach representatives and that they have not been made whole for their losses.
Former employees say the company's customer service practices shifted over time, with representatives struggling to keep up with demand.
A spokesperson for the cryptocurrency exchange said the company is working on customer service and soon rolling out more support channels.
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Source: cnbc.com
Asset managers rush to file applications for bitcoin futures ETFs
August 23, 2021--SEC chair says such funds could win regulatory approval but analysts think investors might stay away
At least four asset managers have filed for ETFs that invest in bitcoin futures after Securities and Exchange Commission chair Gary Gensler earlier this month indicated that he could approve such funds.
But investors may not want them in lieu of physically backed bitcoin ETFs, analysts have said.
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Source: ft.com
Citi considering bitcoin futures trading for some institutional clients
August 23, 2021--Citigroup Inc (C.N) is considering offering bitcoin futures trading for some institutional clients, a spokesperson for the bank said on Tuesday, citing increased demand in the cryptocurrency space.
Bitcoin prices rose past $50,000 on Monday, after having weathered a crackdown by Chinese authorities on domestic cryptocurrency mining companies earlier this year, as mainstream adoption by corporations and the wider public gathers pace.
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Source: reuters.com
Bill Ackman to return $4bn to Spac investors if new vehicle is approved
August 20, 2021--Billionaire investor plans to pivot to new 'Sparc' model following lawsuit.
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Source: ft.com
Bearish Bets on Stocks Outside U.S. Emerge Timed to Fed Meeting
August 20, 2021--Some investors appear to be hedging against a slump in stocks outside the U.S. should the Federal Reserve announce plans to taper stimulus at its September meeting.
New bearish bets with Sept. 24 expiries are evident on the iShares MSCI EAFE (ticker EFA) and iShares MSCI Emerging Markets (ticker EEM) ETFs. The trades appear to be targeting the September FOMC meeting, according to Susquehanna derivatives strategist Chris Murphy.
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Source: bnnbloomberg.ca
Jay Clayton praises blockchain as he joins crypto platform Fireblocks
August 19, 2021--Former SEC chair is the latest former regulator to embrace the digital assets sector
Jay Clayton, the previous US Securities and Trade Fee chair, has mentioned he believes each within the promise of blockchain expertise and the necessity for extra regulation for the crypto sector.
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Source: FT.com
Stockpickers find new niche in thematic ETF strategies
August 19, 2021--Equity picking finds niches in the ETF market through its thematic strategies and more shops are choosing to avoid indexing new trend-following products.
Active ETFs represent a quarter of the 34 thematic ETFs that launched in the first seven months of the year
Less than 18% of ETFs focused on the 197 themes specified by FactSet are actively managed. However, active ETFs make up 26% of the 34 thematic ETFs launched in the United States by August 6, this year.
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Source: FT.com
