Pat Chiefalo, SVP, Head ETFs & Index Strategies, Invesco Canada discusses the growing interest in ESG investing and trends to watch in 2022 on ETF TV

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January was a volatile month with most markets down for the month which will impact the value of the assets currently invested in the ETF industry. Net inflows into the global ETF industry for January is US$75.69 Billion which is down slightly from the US$85.38 Billion gathered in January 2021 based on preliminary data from ETFGI.

Last week there were 23 new listings from 19 issuers: 8 in Asia Pacific, 7 in the United States, 2 in Canada and 2 in Europe, 7 in the United States and 5 in Asia Pacific and there were 14 new cross-listings.  Year to date in the first 5 weeks of the year there have been 142 new listings and 113 new cross listings with 18 closures and 16 delistings of cross listings.    

Engine No. 1 listed their 2^nd ETF – Transform Climate ETF (Ticker: NETZ) with an anchor investment from investment advisory firm Jordan Park. NETZ is an actively managed fund that aims to invest in companies that will drive and benefit from the energy transition.

Grayscale Investments listed, its first ETF, the Grayscale Future of Finance ETF which tracks the Bloomberg Grayscale Future of Finance Index, the index includes 22 crypto-focused companies.  Grayscale filed an application with the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale Bitcoin Trust into a bitcoin spot ETF in October 2021.  In December, the SEC pushed off its review of Grayscale’s application by 45 days.

On Friday the SEC Requested Comments on Concerns About Grayscale’s Spot Bitcoin ETF Proposal expressing concerns about how Grayscale will head off share manipulation, fraud, concerns about the liquidity and transparency of bitcoin markets, as well as the “suitability” of bitcoin as the underlying asset for the fund and other possible issues in its proposal to convert its Grayscale Bitcoin Trust (GBTC) into a bitcoin spot ETF.

The SEC has asked the public to comment on these issues, and given them 21 days to do so, with an additional 14 days for responses to those comments. The SEC requested investment manager Bitwise to respond to similar concerns about its own spot bitcoin ETF proposal.

The SEC over the past few months has rejected spot bitcoin ETF applications from WisdomTree, Krypton, SkyBridge and Fidelity and is revieing a number of applications from other investment firms.

New issuers last week: 21Shares, Aditya Birla Sun Life, Amplify ETFs, BetaShares, CI Global Asset Management, Daiwa Asset Management, Engine No. 1, Evolve ETFs, Exchange Traded Concepts, Grayscale Advisors, Harbor Capital Advisors, iM Global Partner, Investo Gestão de Recursos, Kotak Mahindra Asset Management, Mirae Asset Global Investments, Morgan Creek, Munro, Ossiam, Tabula

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ETF TV News is sponsored by Syntax Advisors https://www.syntaxadvisors.com/.  Syntax Advisors offers a family of Syntax Stratified ETFs that aim to deliver a diversified return by providing investors with rules-based exposure to business risks.

MarketData: ETFGI, video production: Nuru Rimington-Mkali, the transcript and podcast: Mathilde Laessoe  MP4: https://we.tl/t-B8txhej8cm

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