Investment Product and Service Launches

BlackRock Debuts First Buffer ETFs With Launch of 2 Funds

BlackRock debuted its first buffer exchange-traded funds with the launch of the iShares Large Cap Moderate Buffer ETF and the iShares Large Cap Deep Buffer ETF.

iShares buffer ETFs seek to track the share price return of the iShares Core S&P 500 ETF (IVV) up to an approximate upside cap, while mitigating market downturns by seeking to provide an approximate buffer against IVV losses within target ranges.

“iShares buffer ETFs unlock access to institutional-quality risk management solutions in the convenience of the ETF wrapper, helping investors play defense and, importantly, stay invested during turbulent market conditions,” Dominik Rohe, head of Americas ETF and index investments business at BlackRock, said in a statement.

SMArtX Adds 15 Investment Strategies

SMArtX Advisory Solutions announced it has added 15 strategies to its managed accounts platform. The platform now features 1,232 strategies from 294 asset management firms.

Among the new strategies are three from Blue Sky Asset Management’s Genfolio model portfolios, designed for active multi-asset allocation exposure, and ST Capital’s mid-cap value model portfolio. Stansberry Asset Management added seven strategies that collectively target a wide range of exposures across market capitalization and asset classes.

The SMArtX platform also now includes four additional strategies from existing asset management firms Argent Capital Management, Miller/Howard Investments, Scarecrow and T. Rowe Price.

Fidelity Refiles Spot Bitcoin ETF Application With SEC

Fidelity has refiled its Wise Origin Bitcoin Trust spot bitcoin exchange-traded fund with the Securities and Exchange Commission.

“To this point, the lack of a Spot Bitcoin [exchange-traded product] exposes U.S. investor assets to significant risk because investors that would otherwise seek crypto asset exposure through a Spot Bitcoin ETP are forced to find alternative exposure through generally riskier means,” the filing stated.

Fidelity first applied for a Bitcoin ETF in 2021 but was rejected. Last year, the firm announced the launch of a product that allowed workers to save 20% of retirement funds in Bitcoin.

BlackRock Inc. kicked off the refiling and amendments to Bitcoin ETFs from Fidelity and a number of other asset managers with its own refiling on June 15. Other asset managers that either refiled or amended applications were Ark Investment Management LLC, Invesco Ltd., WisdomTree Inc., Bitwise Asset Management and Valkyrie Funds.