Written by Suzanne McGee
(Reuters) – The long-awaited U.S. debut of 11 spot Bitcoin-linked exchange traded funds (ETFs) has contributed to a record start to the new year for ETF launches, issuers and analysts said. Shown in list data.
A total of 35 new ETFs debuted in the first two weeks of 2024, compared to the previous record of 23 in 2022 and just seven in the same period last year. The early 2024 numbers include nine newly created Spot Bitcoin ETFs and two Spot Bitcoin ETF conversions.
According to Morningstar, Todd Rosenbluth, Bettafi's head of research, believes that due to this year's “great start,” the number of launches in 2024 will surpass last year's record of 520 launches last year. It is said that there is.
Nine of the new ETFs launched by Innovator ETF and PGIM Investments on January 2 are so-called defined outcome products, designed to limit upside performance while providing some downside protection for stock prices.
Meanwhile, LexShares has launched three ETFs that use leverage to deliver multiples of the appreciation or depreciation of indexes and stocks such as Microsoft Corp. and Apple Inc.
Calamos Investments LLC this week announced its third ETF, the Calamos CEF Income & Arbitrage ETF. This is an actively managed fund that invests in closed-end mutual funds. “We have several more ETFs planned,” Calamos said in a press release.
Competing for attention and investor money in the highly anticipated Spot Bitcoin ETF may have been a difficult proposition for some funds, said Todd Thorne, an ETF analyst at Strategas.
Spot Bitcoin Fund records $1.9 billion in asset inflows in first three days, leading to ProShares Bitcoin Strategy ETF, which attracted a record $1.2 billion in first three days of trading after debuting in 2021 The total inflow exceeded the post-launch capital inflow.
F/m Investments last week launched a series of ETFs that track a newly designed index that tracks investment-grade bonds. However, a company spokesperson said the company only issued a press release this week and started selling the fund, but expects the new stock to gain more attention after the Bitcoin ETF has already been launched. It is said that He added that despite the relative lack of promotion and marketing, it has attracted $34 million in inflows to date.
“If we were looking for a moment in the spotlight, now was not the best time to launch,” Song said.
(This story has been reedited to correct typo in paragraph 6)
(Reporting by Suzanne McGee; Editing by Nick Zieminski)