Latest news with #TMXVettaFi
Yahoo
18-06-2025
- Business
- Yahoo
Fidelity, Franklin Prep Solana ETFs with Staking
In the crypto ETF world, there's a lot at stake. Eight asset managers have filed or refiled Solana ETF trusts with the Securities and Exchange Commission over the past several days. The barrage of filings suggest that the regulator has been in talks with the firms about their proposals. Amended documents often indicate that companies are incorporating changes that the SEC wants to see — and the development hints that spot Solana ETFs may be approved relatively soon. 'Crypto filings generally see some back-and-forth conversation with the SEC, but it seems like Solana ETFs have a high probability of being approved within the next few months, according to precedent set by previous crypto products,' said Roxanna Islam, head of sector and industry research at TMX VettaFi. READ ALSO: BlackRock Dumps 14 Funds, Many Being Sustainable Products and What the Israel-Iran Conflict Means for Sector ETFs The recent filings have been updated to allow the proposed Solana ETFs to stake a portion of their shares. Staking, in which owners pledge tokens that are used to help secure the network, allows owners to get rewards in the form of more Solana. While the SEC recently expressed concerns with a pair of proposed Ethereum and Solana ETFs that would use staking, the agency's Division of Corporation Finance has also commented that staking does not amount to a securities offering under the Securities Act of 1933. The proposed Solana ETFs come from a variety of issuers: Five that would trade on the Cboe BZX Exchange include products from Fidelity, VanEck, Franklin Templeton, Bitwise, and 21Shares. The Grayscale Solana ETF would trade on NYSE Arca, while the Coinshares Solana ETF would trade on the Nasdaq. The Canary Marinade Solana ETF did not specify which exchange it would use. Stake Through the Heart: 'Ethereum ETFs were denied staking when they were first launched, but since then have filed for staking approval,' Islam said. 'While the SEC has not yet approved staking for Ethereum ETFs, it's possible it could potentially be approved alongside Solana ETFs.' This post first appeared on The Daily Upside. To receive exclusive news and analysis of the rapidly evolving ETF landscape, built for advisors and capital allocators, subscribe to our free ETF Upside newsletter.
Yahoo
11-06-2025
- Business
- Yahoo
WisdomTree Branches Out to Private Credit
WisdomTree is adding blockchain to the growing world of private credit funds. The company filed with the Securities and Exchange Commission last week for the latest flavor of private credit exposure in the form of a mutual fund. The nuance of the proposed product, compared with the few Investment Company Act of 1940 private credit funds out there, is tokenization — it would be part of WisdomTree's digital trust. Shareholders would need to have digital wallets, such as one provided by WisdomTree, in order to invest. The product, WisdomTree Private Credit and Alternative Income Digital Fund, would be passively managed, investing in registered closed-end companies and real estate investment trusts. 'Because private investments have surged in popularity recently, it makes sense that more retail investors are interested in accessing the space,' said Roxanna Islam, head of sector and industry research at TMX VettaFi. 'And generally, retail investors are more comfortable with open-ended funds like ETFs and mutual funds.' READ ALSO: Weight-Loss Drug ETFs Generate Skinnier Returns Than Expected and Asset Managers Aren't Playing the Dual Share Class Waiting Game WisdomTree, whose business is rooted in exchange-traded funds and which launched its digital trust in 2022, has the majority of its $84 billion in US-listed fund assets in ETFs. Products like the recently launched SPDR SSGA IG Public & Private Credit ETF and the ER Shares Entrepreneur Private-Public Crossover ETF 'offer a more direct way to access private investments in an ETF wrapper, but this remains a niche space with a small amount of net inflows,' Islam said. Typically, investors have accessed private credit via closed-end funds like interval funds and business development companies, which are better equipped to handle liquidity constraints, she noted. 'The attraction here is really just a little bit of yield juice for participating in the US shadow banking sector,' Dave Nadig, a financial futurist and ETF writer, said of potential demand for private credit in the form of public funds. 'I'm not sure the extra juice is worth the still-untested liquidity waters of the squeeze, as it were.' Additionally, the investment thesis of the proposed WisdomTree fund may not stand out from competitors, he noted: The Bondbloxx Private Credit ETF, which launched last year, represents $130 million. Virtus Private Credit Strategy ETF, started in 2019, represents $55 million. Chained to the Block: WisdomTree declined to comment on the proposed fund, given that it is in registration. The fund's blockchain aspect, 'is a bit of a distraction,' Nadig said. 'WisdomTree is, indeed, out front with this dual-track transfer agency process, and I applaud them for it, but see it as largely a science experiment while we really figure out crypto regulations.' This post first appeared on The Daily Upside. To receive exclusive news and analysis of the rapidly evolving ETF landscape, built for advisors and capital allocators, subscribe to our free ETF Upside newsletter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
Investors Going 'Back to Basics' With Risk: Murphy
Wall Street's bets that the US-China trade truce marks the end to an all-out tariff war that had threatened a global recession spurred a stock rally on Monday, while sinking defensive corners of the market from bonds to gold and haven currencies. On "Bloomberg ETF IQ", Scarlet Fu and Katie Greifeld speak with Cinthia Murphy, investment strategist at TMX VettaFi. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
12-05-2025
- Business
- Bloomberg
Investors Going 'Back to Basics' With Risk: Murphy
Wall Street's bets that the US-China trade truce marks the end to an all-out tariff war that had threatened a global recession spurred a stock rally on Monday, while sinking defensive corners of the market from bonds to gold and haven currencies. On "Bloomberg ETF IQ", Scarlet Fu and Katie Greifeld speak with Cinthia Murphy, investment strategist at TMX VettaFi. (Source: Bloomberg)
Yahoo
26-03-2025
- Business
- Yahoo
Crypto ETFs Gaining Massive Popularity Among U.S. Advisors as 'Reputational' Risk Gone
Las Vegas—Financial advisors in the U.S. are committed to crypto exchange-traded funds (ETFs) and are ready to increase their holdings this year. During a presentation at the Exchange conference in Las Vegas, TMX VettaFi head of research Todd Rosenbluth and senior investment strategist Cinthia Murphy presented results of a survey sent to thousands of financial advisors in the U.S., arguing that crypto is 'part of everybody's conversation today.' The results showed that 57% of advisors plan on increasing their allocations into crypto ETFs, while 42% will likely maintain their position. Only 1%, practically no one, wants to decrease their position. 'I think last year the message was it's a reputational risk. Today, there's no advisor that can't at least hold a basic conversation in crypto,' Murphy said. Though the U.S. Securities and Exchange Commission (SEC) approved spot bitcoin ETFs in January 2024, a year before U.S. President Donald Trump took office, the new administration's enthusiastic embrace of the crypto industry has likely buoyed its wider institutional adoption. Regulators, including the SEC and the Commodity Futures Trading Commission (CFTC), have reversed course on crypto since the start of the Trump presidency, signaling a friendlier and clearer regulatory approach. Respondents said that they're particularly interested in crypto equity ETFs, which are funds that invest in publicly traded companies with exposure to the crypto industry, such as Strategy (formerly MicroStrategy) or Tesla. 'You can't keep up with the space which I think explains why crypto equity has been popular because it's maybe a little easier to understand and put your fingers around it," Murphy added. Since Trump took the Oval Office, Michael Saylor's MSTR stock has seen a more than 100% rally, making crypto-linked equities more lucrative to both retail and institutional investors. MSTR shares have pared some of their gains since hitting all-time highs; however, the survey results seem to suggest that it is still drawing interest from all parts of the market. Crypto equity-linked ETFs aren't the only ones gaining momentum with financial advisors. About 22% of the survey respondents said they're looking to allocate capital to spot crypto ETFs, such as the spot bitcoin (BTC) or spot ether (ETH) ETFs. The third largest group, which about 19% of respondents said they were interested in, was crypto asset funds that hold multiple tokens. There are numerous crypto ETFs trading on exchanges, with several more in the process of receiving approval from the SEC to be listed in the future. The past few months have seen a particularly large number of index-based ETFs, meaning they hold a basket of crypto assets that go behind bitcoin and ether. Other launches have included managed funds that provide downside protection for price volatility by allocating a percentage in U.S. Treasuries, for example. Several issuers have filed to bring further spot crypto ETFs, including Solana (SOL), XRP and Litecoin (LTC), to the market, but the SEC has yet to review them. 'This is a space that's only growing, and I highly recommend that you get to know the experts in the space … because this is moving fast, and there's a lot to learn,' Murphy said. Cheyenne Ligon contributed to the story. Read more: Crypto Regulatory Clarity Top Catalyst for Industry Growth: Coinbase & EYP Survey Sign in to access your portfolio
