[09/05/23] Grayscale Wins Big in Court

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WEEKLY ROUNDUP OF ETF FILINGS, LAUNCHES & CLOSURES 

Last week, Grayscale Investments won its lawsuit against the SEC to allow it to convert its Grayscale Bitcoin Trust into a spot bitcoin ETF. This doesn’t mean it will immediately be able to do so, but that the agency must reconsider Grayscale’s application.

The regulator also delayed deciding on filings for spot bitcoin ETFs from BlackRock Inc. and other major exchange-traded fund firms. A likely reason for this is if the SEC decides to approve the current raft of applications at the same time, it won’t be granting first-mover advantage to any one firm.

Major stock indexes like the S&P 500 and Nasdaq-100 finished August down 1.5%. ETF inflows also dropped substantially during the, falling to their lowest level since February, after July had the highest monthly inflows this year.

The one sector that finished the month up was energy, which investors can get inexpensive exposure to with the Energy Select Sector SPDR ETF (XLE).

By Gabe Alpert

Below is a roundup of the key developments in the ETF industry during the week ended Sept. 1, 2023.

Ramaswamy’s Strive Launches ‘FAANG’ ETF, With Gold, Fuel Focus Strive expects a poorer, less connected and more dangerous world.

AXS Relaunches HYLD Fund to Focus on Mortgage REITs Now called RINC, the ETF aims at once-derided mortgage-backed securities.

Madison Investments Launches New Active Bond ETF The fund is the firm’s third launch in as many weeks.

KraneShares’ New ETF Bets Big on China Despite Sagging Economy The fund is overweight the country’s stocks by more than 20 points.

Odds & Ends: Grayscale’s Courtroom Victory Plus, Ramaswamy’s Strive launches a new ‘FAANG’ stock ETF.

FEATURED FUND

Energy Select Sector SPDR Fund (XLE)

XLE tracks a market-cap-weighted index of US energy companies in the S&P 500.

WHAT TO WATCH

Allan Roth: Lessons From 2 Jim Cramer ETFs Did Tuttle Capital Management close the wrong fund?

Cannabis ETFs Ride High on Potential Federal Legalization With new buzz about reclassifying marijuana, ETFs in the sector are up double digits in two days. 

How to Invest in Essential Products With Consumer Staples ETFs Consumer staples ETFs could be a leading sector in the second half of 2023.

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PODCAST

On the latest episode of Exchange Traded Fridays, Nancy Tengler, CEO and chief investment officer of Laffer Tengler Investments, discusses with etf.com's Senior Analyst Sumit Roy the investment case for the Laffer Tengler Equity Income ETF (TGLR), her newest ETF focused on high-quality stocks and dividend yields. Listen Now

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VIDEO

On the latest episode of Talk ETFs, etf.com's Senior Analyst Sumit Roy sits down with GraniteShares' Founder and CEO Will Rhind to find how his firm’s GraniteShares Nasdaq Select Disruptors ETF (DRUP) stacks up against the disruptive tech ETF competition, as well as broader tech funds like the Invesco QQQ Trust (QQQ). Watch Now | YouTube

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