ETF Industry News Weekly Recap | October 14-October 18, 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 42, October 14-18, 2024.

Europe ETF News

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

LGIM Introduces Ex-Banks Corporate Bond ETF for Enhanced Diversification

LGIM launched the XBNG ETF, offering exposure to short-duration, high-rated corporate bonds while excluding banks to reduce concentration risk. The TER is 0.12%.

Robeco Launches First Active ETFs, Emphasizing Innovation and Sustainability

Robeco debuted four active ETFs, including 3D equity funds and the Dynamic Theme Machine ETF, leveraging advanced AI for early theme detection.

Leonteq Launches First ETN Tracking European Short-Term Overnight Rate

Leonteq introduced an ETN providing exposure to the European Short-Term Overnight Rate (ESTRON), listed on Deutsche Börse and Börse Frankfurt, tracking the Leonteq EUR Overnight Return Index with a 0.10% TER.

Invesco Closes Two ETFs Due to Low Demand in Europe

Invesco shuttered its Commodity Composite (LGCU) and USD High Yield Corporate Bond ESG (GBHG) ETFs due to insufficient assets under management and lack of economic viability.

UBS AM Cuts Fees for Three ETF Share Classes Amid Mergers

UBS AM reduced fees on three ETF share classes, including a $375M socially responsible ETF, following share class mergers due to insufficient assets.

N26 Expands Stocks and ETFs Trading to 12 New European Markets

N26 introduced stocks and ETFs trading in 12 countries, offering fractional shares with competitive fees and free trades for premium account holders.

Avantis Names Andrew Moore as Head of EMEA ETF Capital Markets

Andrew Moore joined Avantis as head of ETF capital markets for the EMEA region, transitioning from J.P. Morgan Asset Management's capital markets ETF division.

GraniteShares Appoints Catarina Donat Marques as Head of European Retail Strategy

GraniteShares named Catarina Donat Marques to lead its European retail strategy, leveraging her ETF expertise from roles at BlackWater, WisdomTree, and ETF Securities, to support the firm’s European expansion amid growing ETF adoption.

US Industry ETF News

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

Quantify Funds Launches STKD ETF with 100% Bitcoin and Gold Exposure

Quantify Funds introduced the STKD Bitcoin & Gold ETF (BTGD), which offers 100% exposure to both bitcoin and gold through a unique "stacked" investment strategy.

Ned Davis Research Launches 360 Dynamic Allocation ETF

Ned Davis Research launched the NDAA ETF, an actively managed fund that invests in 5-20 passively managed ETFs. It uses NDR’s 360° Approach, incorporating diverse data and strategies across equities, bonds, and commodities.

Virtus Investment Partners Launches Virtus KAR Mid-Cap ETF

Virtus launched the KMID ETF, targeting U.S. mid-cap stocks with strong growth, competitive advantages, and solid financials. The fund identifies companies with above-average returns on capital and attractive valuations.

NEOS Launches Bitcoin High Income ETF with Covered Call Strategy

NEOS introduced BTCI, a Bitcoin ETF using a covered call strategy to generate monthly income from Bitcoin futures. The fund offers enhanced income with a 0.98% expense ratio.

Astoria Portfolio Advisors Launches Astoria US Quality Growth Kings ETF

Astoria launched the GQQQ ETF, an actively managed fund targeting U.S. growth stocks with strong quality traits, aiming for higher risk-adjusted returns while mitigating volatility through optimized stock selection.

Rockefeller AM Launches Rockefeller US Small-Mid Cap ETF

Rockefeller introduced the RSMC ETF, focusing on U.S. small- and mid-cap companies with durable business models and growth potential, aiming for strong risk-adjusted returns.

ProcureAM to Liquidate $3M Natural Disaster Recovery ETF FIXT

ProcureAM’s FIXT ETF, focusing on disaster recovery, will cease trading on Nasdaq on October 17 due to insufficient investor interest.

Fidelity Cuts Costs and Rebrands Active High Yield ETF

Fidelity's High Yield Factor ETF was renamed to the Fidelity Enhanced High Yield ETF, with the ticker remaining the same. The expense ratio was reduced from 0.45% to 0.35%.

Stone Ridge Files Longevity Income ETFs for 1964 and 1965 Birth Cohorts

Stone Ridge AM filed ETFs offering fixed monthly distributions until 2064 and 2065, investing in U.S. Treasuries. These ETFs allow two payout options for retirees.

Stone Ridge Files Inflation-Protected Longevity Income ETFs for 1964, 1965 Cohorts

Stone Ridge AM filed ETFs investing in TIPS and U.S. bonds, offering inflation-linked payouts through 2064 and 2065. The funds will recalibrate in 2044 and 2045 to ensure sustainable distributions.

Stone Ridge Files Three ETFs Offering Predictable Cashflows Through 2035, 2040, and 2045

Stone Ridge AM's new ETFs invest in U.S. Treasury securities, distributing both interest and principal monthly until liquidation in 2035, 2040, or 2045. Each fund targets $1.00 per share annually.

Militia Investments Files for Long/Short Equity ETF Targeting Capital Appreciation

Militia Investments filed an actively managed ETF focusing on long and short equity positions in U.S. and foreign stocks, with potential exposure exceeding 100%.

Bastion Fiduciary Files for Actively Managed Energy-Focused ETF

Bastion's new Energy ETF targets undervalued U.S. energy stocks, holding 20-30 companies with market caps above $500M.

iShares Files for 2x Return S&P 500 ETF with Quarterly Cap

iShares' filed Large Cap Accelerated ETF aims for 2x the return of IVV via call options, with a quarterly cap. Full period holding is required for targeted outcomes.

New Battleshares™ Series Targets Growth with Long/Short Stock Strategy

Battleshares™ ETFs take leveraged long/short positions on stock pairs, such as NVDA vs. INTC, prioritizing growth potential over contrasting business models.

Canary Capital Files for First Litecoin ETF Following XRP Filing

Canary Capital, led by ex-Valkyrie founder Steven McClurg, filed for a Litecoin ETF, marking a first for LTC. The firm recently filed for an XRP ETF as well.

Grayscale Seeks SEC Approval to Convert $524M Crypto Fund Into ETF

Grayscale filed with the SEC to convert its $524M Digital Large Cap Fund into an ETF, offering spot exposure to Bitcoin, Ethereum, Solana, XRP, and Avalanche.

Ex-Tesla Exec Jon McNeill to Launch AI and Electrification ETF Firm

Jon McNeill teamed up with ETF pioneer Adam Patti to launch VistaShares, a firm offering thematic ETFs focused on AI and electrification.

NYSE, Cboe Gain SEC Approval to List Options on Bitcoin ETFs

The SEC approved NYSE and Cboe to list options on spot Bitcoin ETFs, including Grayscale, Bitwise, and Fidelity funds. This move is expected to boost liquidity and institutional interest in Bitcoin investments.

CFA Urges SEC to Reject State Street’s Private Credit ETF Proposal

The Consumer Federation of America warned the SEC against approving State Street’s private credit ETF, citing concerns about liquidity, valuation, and conflict of interest with Apollo's involvement.