Although the week’s ETF news was dominated by ARK and 21Shares teaming up to launch five cryptocurrency-related ETFs, there were additional new ETFs from other firms, including Simplify, newcomer GMO, Amplify, SoFi, DWS, and Virtus.
ARK & 21Shares Partner on New ETFs
On Tuesday and Wednesday, ARK and 21 Shares rolled out a total of five actively managed ETFs targeting cryptocurrency futures or crypto-related equities. Those funds and their expense ratios are as follows:
ARKA and ARKZ invest in futures contracts on bitcoin and Ethereum, respectively. Meanwhile ARKC shifts between cash equivalents and bitcoin futures depending on whether bitcoin’s expected trend is bearish or bullish based on on-chain transaction data.
ARKD primarily invest in the equities of companies involved in the blockchain and digital economy industries and can allocate assets to bitcoin futures based on qualitative and quantitative data, according to its prospectus. ARKY allocates its assets between bitcoin and Ethereum futures based on a range of criteria and factors.
All five funds list on Cboe Global Markets.
During the week, Goose Hollow debuted the Goose Hollow Multi-Strategy Income ETF (GHMS). The actively managed fund allocates its assets among ETFs covering domestic and foreign corporate debt; domestic and foreign government debt; and agency or mortgage-backed debt, the prospectus says. GHMS lists on Cboe Global Markets and has an expense ratio of 1.20%.
Finally, the IDX Dynamic Innovation ETF (DYNI) is, like GHMS, an ETF-of-ETFs. It allocates its assets among ETFs that capture disruptive innovation trends based on a quantitative approach. The methodology takes into account the ETFs’ momentum and volatility for purposes of portfolio selection and weightings. It has an expense ratio of 1.05% and lists on the Nasdaq stock market.
There were also a number of completed and announced closures during the week.
Both the ETC Gavekal Asia Pacific Government Bond ETF (AGOV) and the Cabana Target Drawdown 5 ETF (TDSA) saw their last day of trading on Wednesday. Similarly, the Clouty Tune ETF (TUNE), which focused on the entertainment industry, ceased to trade about six months from its inception.
Another five impending closures were also announced. Those funds and their last days of trading are as follows:
Five BNY Mellon ETFs changed their underlying benchmarks from Morningstar indexes to Solactive indexes. during the week. Those changes are as follows:
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