ETF Industry News Weekly Recap | August 26-30, 2024

Each week, we bring you a comprehensive roundup of the latest ETF industry news and updates from Europe and the United States. This includes ETF launches, filings, closures, mergers and acquisitions, regulatory changes, and other key developments within the ecosystem. Here’s a look at the top stories from Week 35, August 26-30, 2024.

Europe ETF News

Catch up on the key ETF news from Europe this week that you might have missed.

BNP Paribas AM Launches Fixed Maturity Euro Corporate Bond ETFs
BNP Paribas AM debuts three fixed maturity ETFs focused on euro corporate bonds maturing in 2027, 2029, and 2032, targeting both institutional and retail investors.

Fair Oaks Capital Launches Europe’s First CLO ETF
Fair Oaks Capital introduces Europe's first CLO ETF, focusing on euro-denominated AAA-rated CLOs. The ETF lists on Deutsche Boerse on September 10.

DWS Overnight Rate Swap ETF Reaches €10bn AUM Amid High Rate Environment
DWS's Xtrackers EUR Overnight Rate Swap ETF (XEON) hits €10bn AUM, driven by strong inflows, particularly from German retail investors, despite rate cuts.

ESMA Updates ESG Fund Naming Rules, Affecting 1,600 Funds by November
ESMA updated ESG fund naming rules, effective November 21, impacting 1,600 funds. Passive funds, holding 45% of affected stocks, may need to divest $19bn to comply.

Robeco Launches Climate-Focused Index Family for Diverse Investor Needs
Robeco introduces three climate indices tailored for different climate investing strategies, integrating advanced metrics like Climate Beta and SDG frameworks.

MSCI Cuts China Stocks, Adds Indian Securities in Global Index Rebalancing
MSCI removes 60 Chinese and adds seven Indian stocks to its global indices, effective August 30, reflecting shifting investor sentiment toward India's growth.

US Industry ETF News

Catch up on the key ETF news from the United States this week that you might have missed.

KraneShares Launches AI-Driven China Alpha Index ETF
KraneShares debuts the China Alpha Index ETF (KCAI), using AI and machine learning to outperform China's CSI 300 Index through optimized alpha strategies.

Global X Launches Infrastructure Development ex-U.S. ETF
Global X introduces IPAV, an ETF targeting non-U.S. infrastructure companies, benefiting from global construction growth and advancements like AI.

Blue Horizon BNE ETF to Close and Liquidate by September 27, 2024
The Blue Horizon BNE ETF will liquidate on September 27, 2024. The fund will halt trading, liquidate assets, and distribute cash to shareholders, triggering taxable events.

NYLI Restructures Two ETFs to Fully Transparent Active Funds
New York Life Investments restructures IWLG and IWFG ETFs to fully transparent active funds, maintaining their growth-focused strategies managed by Winslow Capital.

Invesco Files for Nasdaq-100 Companies with Focus on Mega-Caps
Invesco's actively managed ETF will invest in the top 45% of Nasdaq-100 companies by weight, focusing on 6 to 15 mega-cap stocks, using swaps and direct equity investments.

Invesco Files for ETF Focused on Low Volatility Nasdaq-100 Stocks
Invesco's new ETF will track 25 Nasdaq-100 stocks with the lowest volatility, weighted inversely to volatility, and excluding financials, REITs, SPACs, and "when-issued" securities.

Tuttle Capital Launches Option Income Strategy ETFs Across Various Sectors
Tuttle Capital files for a series of 15 ETFs focused on generating income through options strategies, each tied to different sectors and strategies ETFs like RSP, VTV, XLE, XLF, and XLU.

Janus Henderson Files for New Income-Focused ETF
Janus Henderson's new ETF targets high income by investing in diverse U.S. and global debt securities, including high-yield bonds and commercial loans.

Summit Global Investments Files for Enhanced Market Leaders ETF
Summit Global's new ETF targets large-cap stocks, using options strategies for income. The actively managed fund may increase volatility due to its non-diversified approach.

J.P. Morgan AM Files for Flexible Income ETF
J.P. Morgan AM's new ETF will invest flexibly across global income-producing assets, including debt, equity, and derivatives, aiming for diversified income.

J.P. Morgan AM Files for Active High Yield ETF
J.P. Morgan AM's upcoming ETF will focus on high-yield debt, with at least 80% in below-investment-grade securities, using a value and ESG-driven approach.

Nuveen Files for Actively Managed CLO ETF
Nuveen's new ETF will focus on U.S. dollar-denominated CLO debt tranches rated AA+ to BBB-, avoiding lower-rated securities and CLO equity, with a diversified approach to CLO exposure.

Thrivent AM Seeks SEC Approval for ETF-Mutual Fund Share Class Structure
Thrivent Asset Management files with the SEC for exemptive relief to offer ETF and mutual fund share classes within the same structure, joining others in leveraging Vanguard's expired 2000 patent.

Virtus Investment Partners Seeks SEC Approval for ETF Share Classes of Mutual Funds
Virtus Investment Partners applies for SEC relief to offer ETF share classes of its mutual funds, joining 19 firms seeking enhanced tax efficiency and investor choice.

24X Exchange Seeks SEC Approval for 24/7 Trading of Crypto ETFs
24X Exchange has filed an amended application with the SEC to enable 24/7 trading of cryptocurrency ETFs, potentially allowing continuous trading of top ETFs and major indices.

Osprey Bitcoin Trust to Merge with Bitwise Bitcoin ETF
Osprey Bitcoin Trust (OBTC) merges with Bitwise Bitcoin ETF (BITB), transitioning OBTC unitholders to BITB shares tax-free. Completion expected later this year.

BlackRock Lists iShares Ethereum Trust on Brazil's B3 Exchange
BlackRock launches iShares Ethereum Trust (ETHA39) on Brazil's B3 exchange, offering access to Ethereum. ETHA has garnered over $1 billion in U.S. inflows.

SEC Approves Monthly Reporting for Funds, Shelves Swing Pricing Proposal
The SEC now requires mutual funds and ETFs to report portfolio holdings monthly, enhancing transparency. The decision, effective from November 2024, follows a 3-2 vote, with "swing pricing" regulations postponed due to industry opposition.

Merrill Lynch to Triple Active ETFs on Its Platforms Over the Next Five Years
Over the next five years, Merrill Lynch will expand its active ETF offerings from 100 to 300, focusing on ETF versions of existing mutual funds and growth strategies.