Industry Updates

Blockchain, China A-Shares and pass-through securities

David Tuckwell

Today's new ETF listings from around the world.


Amplify lists active blockchain ETF

Illinois-based Amplify is listing a new actively managed ETF that tracks companies likely to use or benefit from blockchain, the Amplify Blockchain Leaders ETF (BLOK).

BLOK will be benchmarked against the Blockchain BLOK 50 Global Index, which is developed by Emerita Capital Indices and EQM Indexes. The index picks blockchain companies based on broad criteria. This includes companies engaged in proof-of-concept testing; companies profiting from bitcoin; companies partnered with companies involved in proof of concept; companies that are members of groups that explore blockchain. BLOK is also open to investing in bitcoin ETFs, the prospectus says.

To qualify in the index, companies must have market capitalisation greater than $200m, their shares must cost at least $3 and have an average daily trading volume of at least $1,000,000 over the prior six months.

GraniteShares acquires HIPS and lowers the cost

GraniteShares is taking over the Master Income ETF from Exchange Traded Concepts and Master Shares, and renaming it the GraniteShares US High Income ETF (HIPS).

HIPS will continue to function the same as before, investing in pass-through securities, which are securities that pass through most of the income they generate to investors.

However it will be tracking a new index, the TFMS US High Income Pass-through Securities Index in place of the previous index provided by Master Shares. The new index tracks 300 US pass-through securities drawn from close-ended funds, REITs (mortgage, residential, diversified), asset managers, and upstream and midstream MLPs.

GraniteShares has lowered the management fee from 1.43% down to 0.75%.

WisdomTree lists multi-asset and China ETFs

WisdomTree is listing two new ETFs, one of which offers a portfolio of ETFs under the wrapper of a single ETF, the other of which targets China. They are:

  • WisdomTree Balanced Income Fund (WBAL)

  • WisdomTree ICBCCS S&P China 500 Fund (WCHN)

WBAL offers a balanced growth portfolio, with a 60/40 equity to bonds split. It provides this exposure by tracking an index of ETFs, which the prospectus says can include WisdomTree ETFs. The equity ETFs WBAL invests in have to be listed on a US exchange, although they do not have to track US companies. The fixed income ETFs include government bonds, corporate bonds, mortgage-backed securities and other mortgage-related products, the prospectus says.

WCHN tracks an index of the biggest 500 Chinese companies while maintaining sector exposure similar to the broader Chinese equity market. All Chinese share classes, including A-Shares and offshore listings, are eligible for inclusion, subject to meeting minimum size and liquidity requirements, the prospectus says.

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