The US Securities and Exchange Commission is busier than Santa’s elves these days as it scrambles to work with exchange-traded fund issuers to fine-tune offering documents ahead of the likely approval of spot Bitcoin ETFs. While this ten year-long saga seems to be nearing an end, approving them will create a whole new world of products—and regulation.

On this episode, Joel Weber, Eric Balchunas and Bloomberg reporter Katie Greifeld speak with SEC Commissioner Hester Peirce in front of an audience at Bloomberg’s 8th Annual ETFs in Depth conference. Topics discussed include Bitcoin and crypto ETFs, as well as other topics on the SEC’s radar, such as ETF share classes, the growing size of big passive fund companies as well as a steady stream of more complex products. 

The US Securities and Exchange Commission is busier than Santa’s elves these days as it scrambles to work with exchange-traded fund issuers to fine-tune offering documents ahead of the likely approval of spot Bitcoin ETFs. While this ten year-long saga seems to be nearing an end, approving them will create a whole new world of products—and regulation.
On this episode, Joel Weber, Eric Balchunas and Bloomberg reporter Katie Greifeld speak with SEC Commissioner Hester Peirce in front of an audience at Bloomberg’s 8th Annual ETFs in Depth conference. Topics discussed include Bitcoin and crypto ETFs, as well as other topics on the SEC’s radar, such as ETF share classes, the growing size of big passive fund companies as well as a steady stream of more complex products.

Money goes where it's treated best. That simple truth is a big reason why more and more money—trillions, in fact—flows into a powerful, low-cost tool that's quietly transformed investing in recent years. Exchange-traded funds, or ETFs, let you invest in everything from the stock market to gold like never before. This biweekly podcast will demystify them—and delight you in the process.

Joel Weber and Eric Balchunas demystify the world of exchange-traded funds, or ETFs.

Trillions

Will 2024 Be the Year of the Bitcoin ETF?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/433c2d59-6a0d-4eee-bb3f-b0dd00fdbc6d/transcript

“The House That Jack Bogle Built” is alive and well in sleepy Malvern, Pennsylvania. So far this year, the asset management firm that pioneered low-cost investing—so much so that “beta” is almost free now—has hoovered up another $256 billion of inflows into its US exchange-traded funds. But as the company nears its 50th anniversary, can it continue to succeed without changing its tried-and-true ways?

On this episode of Trillions, Eric Balchunas and Joel Weber speak with Vanguard’s Janel Jackson, head of bank and institutional in the company’s Financial Advisor Services division. They discuss her time at Vanguard, how she discovered the power of ETFs, why the company remains “true to label” despite the industry’s love of “spicy” products and even where Vanguard might look to push the envelope. 

“The House That Jack Bogle Built” is alive and well in sleepy Malvern, Pennsylvania. So far this year, the asset management firm that pioneered low-cost investing—so much so that “beta” is almost free now—has hoovered up another $256 billion of inflows into its US exchange-traded funds. But as the company nears its 50th anniversary, can it continue to succeed without changing its tried-and-true ways?
On this episode of Trillions, Eric Balchunas and Joel Weber speak with Vanguard’s Janel Jackson, head of bank and institutional in the company’s Financial Advisor Services division. They discuss her time at Vanguard, how she discovered the power of ETFs, why the company remains “true to label” despite the industry’s love of “spicy” products and even where Vanguard might look to push the envelope.

A Rare Peek under the Hood of Vanguard

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/f48af57b-c3c8-46dc-bf8d-b22e011af97f/transcript

One of the year’s hottest investments? Bitcoin, which has surged on exchange-traded fund adoption as well as the return of the “Trump trade.” One way to go especially big on that bet is two new leveraged ETFs: MSTX and MSTU, which are 2X MicroStrategy—a company that’s already a highly exposed Bitcoin proxy.

Both ETFs effectively give investors a 4X exposure to Bitcoin. If that sounds volatile, it is: MSTX is the most volatile ETF in the US. Consider this space the “ghost pepper” of hot sauces.

On this episode of Trillions, Eric Balchunas and Joel Weber speak with Sylvia Jablonski, the CEO and CIO of Defiance ETFs—the issuer behind MSTX. They discuss how the product came into existence, what the Trump trade has meant for inflows, why there’s a modest rivalry with MSTU already, how investors are using options on the product and what makes a good “ghost pepper.”

One of the year’s hottest investments? Bitcoin, which has surged on exchange-traded fund adoption as well as the return of the “Trump trade.” One way to go especially big on that bet is two new leveraged ETFs: MSTX and MSTU, which are 2X MicroStrategy—a company that’s already a highly exposed Bitcoin proxy.
Both ETFs effectively give investors a 4X exposure to Bitcoin. If that sounds volatile, it is: MSTX is the most volatile ETF in the US. Consider this space the “ghost pepper” of hot sauces.
On this episode of Trillions, Eric Balchunas and Joel Weber speak with Sylvia Jablonski, the CEO and CIO of Defiance ETFs—the issuer behind MSTX. They discuss how the product came into existence, what the Trump trade has meant for inflows, why there’s a modest rivalry with MSTU already, how investors are using options on the product and what makes a good “ghost pepper.”

Get Ready for the Hottest Hot Sauce

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a6044abd-e155-48f3-8366-b22001013a1a/transcript

As with humans, death is a part of life in the exchange-traded fund industry. There have been about 150 closures this year, which may be a bit surprising given how almost everything is up in the markets. So what’s behind this year’s class of liquidated ETFs? And what does it mean for investors? 

On this episode of Trillions, Eric Balchunas and Joel Weber dig into the stories and answer the “why” behind some of the closures in 2024. On hand to assist is Vildana Hajric, a cross-asset reporter for Bloomberg, and Todd Rosenbluth, head of research at VettaFi.

As with humans, death is a part of life in the exchange-traded fund industry. There have been about 150 closures this year, which may be a bit surprising given how almost everything is up in the markets. So what’s behind this year’s class of liquidated ETFs? And what does it mean for investors? 
On this episode of Trillions, Eric Balchunas and Joel Weber dig into the stories and answer the “why” behind some of the closures in 2024. On hand to assist is Vildana Hajric, a cross-asset reporter for Bloomberg, and Todd Rosenbluth, head of research at VettaFi.

Why These ETFs Died During a Bull Market

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/b15b1df1-35db-41b4-a747-b2120103fe48/transcript

Will 2024 Be the Year of the Bitcoin ETF?

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