Eric Balchunas (@EricBalchunas) started following @Alex__Pitti on Sep 21, 2024

Cars do not look when they are turning. They only care about one thing, getting across that intersection. Make sure you look at the driver and be careful while walking. Drivers do not care one iota if they run you down.

$sowg bear case got stronger

Important note: This is just one stage of approval, the OCC and CFTC has to approve as well before they officially list. The other two don't have a 'clock' so not sure when they'll be approved. A big step tho nonetheless that the SEC came around.

Roundhill filing for a new Weekly T-Bill ETF (WEEK) which will invest in ultra short term treasuries and distribute the income weekly https://t.co/HtFtpoiqSp

I'm assuming others will be approved in short order. Huge win for the the bitcoin ETFs (as it will attract more liquidity which will in turn attract more big fish). This is nice surprise re timing but not a shocker as @JSeyff and I gave 70% odds of approval by end of May. https://t.co/a8mUGLOcKG

OPTIONS APPROVED: SEC has just granted accelerated approval for the listing and trading of options on $IBIT. Here's the full approval. h/t @News_Of_Alpha https://t.co/NxcnzvuPmA https://t.co/mtShgrMrwc

Our ETF of the Month for August is.... $MGRO the VanEck Morningstar Wide Moat Growth ETF (MGRO) which is a sequel to the smash hit $MOAT and serves up growth with Buffett-esque screen. It's seen recent pop in volume and 1M returns via @SirYappityyapp https://t.co/Bssu5sx0fm

Someone suggested gold is a fair comp for btc. I can get with that. So let's break it down: gold ETFs account for 1% of total gold market cap (and I think we can all agree they've been positive for gold price). Bitcoin ETFs are already 5% of total btc market cap and this is after

Most successful ETF launch in history = peanuts. Man, this is some spoiled brat mindset right here. That $17b bailed out your bags on multiple occasions holmes, show some respect.

Big day for bitcoin ETFs yest which have set new high water mark of +$17.7b YTD (most imp number) as flows across rolling 1M turned positive. This is why holding the line during the 'one step back periods' is so huge, can get to working on new net YTD highs faster. https://t.co/ILjoIWwEi3

I just looked, the Jets were 7-30 against Brady-era Pats. Tbh that’s slightly better than I would have guessed but still in a league w as much parity as NFL it’s really brutal.

The Jets look legit, Rodgers gaining confidence by the game. And I’m happy for them. Their fans have suffered so much, esp at the hands of the Patriots (whose fans have been beyond spoiled). Nice to see the tables turned.

Just when you think its safe to rotate.. https://t.co/6nuVVX8NqR

Superb chart from @psarofagis showing the % of money in passive funds by country, which shows just how early this trend is globally, also notable that active beat rates are about the same regardless of % passive which also hurts the passive excuse for active underperformance https://t.co/RFSNSaZAbq

The new 2x $MSTR ETF is seeing legit volume right off the bat, $2m yest but $6m already today headed to >$10m. Only like 1-2% of ETF launches see this kind of volume this early. Helps that it is up 17%. Still notable tho given there's already a highly liquid 1.75x $MSTR ETF. Just https://t.co/ZSFLS4rKjj

One note: when we say "passive" we looking at anything that tracks an index which can include smart-beta which tends to tilt to value. But this also speaks to a broader issue with worries about passive is passive isn't homogenous, it's very varied, even broad mkt cap weighted

And.. stocks with the highest % passive ownership aren't more volatile either (which is especially surprising to me as I'd assume if less float available for trading = more volatility) but data doesn't bear it out https://t.co/LYnULn6k4I

SHOCKER: Stocks with Higher Passive Ownership Aren't More Expensive.. If you divide stocks by their % passive ownership, the stocks with higher passive ownership (Decile 10) don't show any meaningfully higher valuations. Great note today from @psarofagis & @PythonTrader https://t.co/4yT11viGg7

RT @CarolynMcC: Excited to hear Kathleen Boyd talk about financial planning for infertility. @NAPFA @XYPlanning https://t.co/4HBFqAWXmb

RT @ArleneDMoss: If you aren't learning about the financial realities of fertility you're missing a need your younger clients may have. #NA…

Also love this chart showing ETF issuer by index brand they use, some very diversified, some lean on one or two brands.. https://t.co/Gzna6in5A1

Since the ETF Rule in 2019, there have been 1,315 actively managed ETFs launched, 2/3 of the total number of ETFs launched. Here's how that looks versus ETFs launched by index provider via @psarofagis https://t.co/nKlcj5h3CP

Re the $1T, it's already at a trillion yes, that's what the section explains. I doubt they are allowed to predict anything but they do show charts with the returns in dif periods hinting at future growth

BlackRock on the growing US debt (with no end in sight), which it says Bitcoin can offer protection from. This is why some have called bitcoin the 2nd amendment of money. https://t.co/r3nEUG6Lk6

BlackRock just put out a nine-page white paper that makes case for bitcoin ETF as a "unique diversifier" that can hedge against fiscal, monetary and geopolitical risks, also incl section called "Bitcoin's path to $1 trillion market cap" 👀 Read whole thing here: https://t.co/mRzDpw4aSP

Whenever I see the volatility barrier broken https://t.co/Al1bSGOsIm

Tuttle just re-broke the volatility barrier today with the launch of 2x and -2x $MSTR ETFs, which will leap frog Defiance's 1.75x MSTR (which has been a instant hit) which will deliver volatility estimated to be about 15x that of SPX. Hot sauce arms race in effect.. https://t.co/qIWo9KE29Z

the people have spoken https://t.co/EyUttn8EnD

IMHO investors would rather access illiquid assets like private eq/credit in ETFs and deal with discounts and premiums (even steep ones) than in an interval/closed end/mutual fund.. one eg $HYD which traded at 29% discount in 2020, since then it's remained very popular, even https://t.co/TvuXJWadHQ

Lollapalooza for market nerds https://t.co/GNK2Yf5cPz

New filing for WEBs Defined Volatility SPY ETF (DVSP) which invests 0-200% into $SPY depending on whether the Ratio (long term volatility divided by short term volatility) is above or below 1. Interesting name WEBs perhaps a nod to WEBS (which got rebranded iShares in '90s) https://t.co/VHOqs1vJWb

As predicted, most investors don't really care how their shares are voted (and or just trust Vanguard/BlackRock to vote for them) according to early data from Vgrd's pilot program. This issue was largely the result of click-bai-y 'some worry' articles not actual investor https://t.co/n0RshAjGfL

Eagles put on a masterclass last night in how to snatch defeat from the jaws of victory. This is why I have a rule to go to bed at halftime whenever Eagles have a non-playoff night game, a rule that I broke last night unfortunately. All that said, Barkley is amazing and I'm