Odds & Ends: Grayscale’s Courtroom Victory

Plus, Ramaswamy’s Strive launches a new ‘FAANG’ stock ETF.

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Reviewed by: Lisa Barr
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Edited by: Lisa Barr

This week Grayscale Investments won its lawsuit against the SEC to convert its Grayscale Bitcoin Trust (GBTC) into a spot bitcoin ETF. 

The ruling means that the regulator must review Grayscale’s application again. It also likely increases the pressure on the regulator to approve the plethora of filings from big exchange-traded fund industry players like BlackRock Inc. and WidsomTree Inc. to open spot bitcoin ETFs of their own. 

However, those firms will have to wait a bit longer as the SEC delayed approving the raft of filings this week. One reason for this is that SEC may be waiting to approve all the filings at once so that none of them gets first-mover advantage, a factor that could greatly influence the success of the funds. 

Vivek Ramaswamy made a splash in the Republican primary debates earlier this month. This week, the firm he founded, anti-ESG ETF shop Strive Investments, launched a new ETF.  

The Strive FAANG 2.0 ETF (FTWO) piggybacks on the name recognition of the acronym used to describe a group of majorly outperforming tech stocks: Facebook, Amazon, Apple, Netflix and Google. This fund instead focuses on five themes Strive argues will outperform in the coming decades: fuel, agriculture, aerospace and defense, nuclear energy and gold. 

Launches 

Tuesday:  

  • Madison Aggregate Bond ETF (MAGG) 

Wednesday:  

  • Polen Capital Global Growth ETF (PCGG) 
  • Segall Bryant & Hamill Select Equity ETF (USSE) 

Thursday: 

  • American Beacon AHL Trend ETF (AHLT) 
  • Strive FAANG 2.0 ETF (FTWO) 
  • YieldMax XOM Option Income Strategy ETF (XOMO) 

Friday:  

  • Innovator International Developed Power Buffer ETF – September (ISEP)  
  • AllianzIM U.S. Large Cap Buffer10 Sep ETF (SEPT)  
  • AllianzIM U.S. Large Cap Buffer20 Sep ETF (SEPW)  

Closures  

Monday:  

Wednesday: 

Thursday: 

ETF Changes 

Monday: 

The following funds had share splits: 

The Ionic Inflation Protection ETF (CPII) changed its expense ratio from 0.70% to 0.74% 

The ASYMmetric Smart S&P 500 ETF (APSY) changed its index from the ASYMshares ASYMmetric S&P 500 ETF to ASYMmetric Smart 500 Index. 

The Invesco Defensive Equity ETF (DEF) changed its name to the Invesco Bloomberg Pricing Power ETF (POWA). Its index also changed from the Invesco Defensive Equity Index to the Bloomberg Pricing Power Index. 

The Invesco S&P MidCap 400 Equal Weight ETF (EWMC) changed its name to the Invesco S&P MidCap 400 GARP ETF (GPRM) and changed its index from S&P MidCap 400 Equal Weight Index to S&P MidCap 400 GARP Index. 

The Invesco Dynamic Media ETF (PBS) changed its name to the Invesco Next Gen Media and Gaming ETF (GGME) and changed its index from the Dynamic Media Intellidex Index to the STOXX World AC NexGen Media Index. 

The Invesco Global Short Term High Yield Bond ETF (PGHY) changed its name to the Invesco Global ex-US High Yield Corporate Bond ETF and its index from the DB Global Short Maturity High Yield Bond Index to the ICE USD Global High Yield Excluding US Issuers Constrained Index. 

The Invesco 1-30 Laddered Treasury ETF (PLW) changed its name to the Invesco AI and Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) and its index from the Ryan/NASDAQ U.S. 1-30 Year Treasury Laddered Index to the ICE 1-30 Year Laddered Maturity US Treasury Index. 

The Invesco Dynamic Software ETF (PSJ) changed its name to the Invesco AI and Next Gen Software ETF (IGPT) and its index from the Dynamic Software Intellidex Index to the STOXX World AC NexGen Software Development Index. 

The Invesco Dynamic Market ETF (PWC) changed its name to the Invesco Bloomberg MVP Multi-Factor ETF (BMVP) and its index from the Dynamic Market Intellidex Index to the Bloomberg MVP Index 

The Invesco Dynamic Networking ETF (PXQ) changed its name to the Invesco Next Gen Connectivity ETF (KNCT) and its index from the Dynamic Networking Intellidex Index to the STOXX World AC NexGen Connectivity Index 

The following ETFs changed their names and/or tickers: 

Tuesday: 

Thursday: 

The following ETFs changed their expense ratios. 

Friday: 

The following ETFs changed their expense ratios.  

Gabe Alpert is a former data reporter at etf.com with over seven years’ experience in financial journalism. He also previously contributed reporting and analysis to Barron’s Magazine, Investopedia and other publications.