February marked another milestone month for the ETF industry, with several new issuers and innovative product launches. ULTUMUS tracks global ETP launches, and here highlights five notable launches that stand out.
ETF issuers are capitalising on the growing trend of "retailisation" in private markets, which gives retail investors access to private equity and debt strategies. SPDR SSGA Apollo IG Public & Private Credit ETF (PRIV), listed in the US, is the first ETF offering private credit exposure. Its innovative structure addresses liquidity mismatches, with Apollo committed to buying back private assets (up to a daily limit) in the event of redemptions.
HANetf has brought Jupiter Asset Management to market, launching the Jupiter Global Government Bond Active UCITS ETF (GOVE). With an expense ratio of just 0.30%, it’s less than half the cost of Jupiter’s mutual fund (0.64%), which is managed by the award-winning Vikram Aggarwal.
Also through the HANetf platform, The Sprott Physical Uranium ETC (SPUT) is Europe’s first ETF providing direct exposure to physical uranium holdings. This mirrors Sprott’s Toronto-listed closed-end fund and offers a pure play on uranium prices, without the volatility and valuation concerns associated with equity investments in uranium companies.
In the crypto space, WisdomTree launched the first ETP tracking the CoinDesk 20 index (WCRP), which includes the top 20 cryptocurrencies by market cap and accounts for 90% of the digital currency market.
In an unconventional twist, two new ETFs offer combined equity and crypto futures exposure. Volatility Shares’ One+One S&P 500 and Bitcoin ETF (OOSB) and One+OneNasdaq 100 and Bitcoin ETF (OOQB) combine equity exposure with Bitcoin futures, marking a departure from traditional leveraged ETFs that typically track a single asset. Both funds charge 0.75%.