ETF Financial News

Zerodha Mutual Fund announced that Zerodha Nifty 1D Rate Liquid ETF crossed Rs 1,000 crore assets under management (AUM). The unique scheme from the fund house marked the arrival of Liquid ETFs that offer a growth NAV for the first time in India, according to a press release from the fund house. The fund was launched on January 24. Zerodha Nifty 1D Rate Liquid ETF is benchmarked against the Nifty 1D Rate Index, which measures the returns generated by market participants lending in the overnight market. The ETF primarily invests in TREPS (Treasury Bills Repurchase) traded on the CCIL (Clearing Corporation of India Ltd) platform. As the investment is made in overnight debt products backed by treasury bills, it carries a relatively low credit risk and low-interest rate risk.

The latest week was highlighted by positive public sentiment for bitcoin. Wells Fargo (WFC) and JPMorgan Chase (JPM) both reported holdings in spot bitcoin exchange-traded funds, and Twitter co-founder and former CEO Jack Dorsey forecast that bitcoin's price could climb to $1 million by 2030. Meanwhile, crypto analysts are tracking meme coins this week, as the return of famed GameStop retail trader «RoaringKitty» to social media led to a surge in prices over the weekend.

outflow of ₹396 crore last month, making it the first withdrawal after March 2023, owing to profit booking. Despite the decline, the asset under management (AUM) of gold funds rose 5% to ₹32,789 crore at April-end from ₹31,224 crore in the preceding month, according to the data with the Association of Mutual Funds in India (Amfi).

Akshaya Tritiya or Akha Teej is considered as an auspicious day for buying valuable assets, be it gold and diamond jewellery, vehicles or real estate. It is believed that purchasing these assets on Akshaya Tritiya ushers in good luck, success and prosperity in various facets of life. Among all these assets, buying gold stands out as a timeless tradition because people can buy this precious metal even with small amount. In this digital era, gold buying pattern too has undergone a massive change. Now there are a range of options available for people to invest in gold such as digital gold, gold ETFs, gold bonds, apart from physical gold.

Akshaya Tritiya 2024: Akshaya Tritiya, a significant spring festival for the Hindu and Jain communities, is being celebrated today across the country. Buying precious assets, including gold, on this day has cultural significance. Traditionally, people have been buying physical gold on Akshaya Tritiya every year, but with each passing year especially in the wake of the arrival of new ways of gold investment, this pattern has been changing slightly.

Akshaya Tritiya is considered as an auspicious day symbolizing prosperity and good luck. It is said that an investment made on this day gives favorable returns, thus making it popular for buying gold and other precious assets.

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Bitcoin started this week with trading at $64,000 level, following a cooler-than-expected US April jobs report after rebounding from the $56,000 level the previous week. However, Bitcoin could not hold there for long and swiftly retreated to $62,000, influenced by regulatory concerns surrounding Robinhood in the US. Furthermore, remarks from Federal Reserve Chair Jerome Powell indicating a prolonged timeline for policy adjustments added to the pressure on both crypto and traditional markets. Despite facing these hurdles, Bitcoin has shown remarkable resilience, boasting a staggering 127% increase in value over the past year. It has firmly held above the $60,000 threshold, with immediate support pegged at $61,300 and resistance at $64,500, currently trading at $63,000.

New York Post, Lukenas passed away on May 2 from "acute coronary artery thrombus" after reportedly working approximately 100 hours weekly over several consecutive weeks. His death occurred just days after the completion of a $2 billion merger he had been working on. Also Read | Quant funds offer refreshing alternative to discretionary investing, says Rajiv Shastri of NJ Mutual Fund The tragic incident has ignited widespread outrage among bankers, who point to the demanding work culture at financial institutions like Bank of America as a contributing factor.

Wells Fargo, the third largest bank in the United States, has invested in one of the country’s new Bitcoin ETF products.

Today, Bitcoin is trading at $60,620, marking a 4% decrease over the last 24 hours. The cryptocurrency’s recent uplift is attributed to dovish economic data from the U.S., hinting at possible Federal Reserve rate cuts.

Investor appetite for ETFs shrank dramatically in April, with global ETF flows falling to $68.5 billion from $126.5 billion in March, according to BlackRock data.

₹68,500 per 10gms, targeting an initial upside of ₹74,000 per 10gms, followed by ₹78,000 per 10gms levels. Conversely, a decisive break below the previous swing low of ₹65,200 per 10gms could disrupt the trend, potentially leading gold to retest the ₹63,300-Rs.63,800 per 10gms range, it predicted. Following a robust performance last year, gold has been persistently climbing upward, registering an approximate 12.50 percent gain on domestic exchanges thus far.

We, Indians, hold our traditions and cultural beliefs very close to our hearts, finding significance in the rituals that shape our lives. The auspicious festival of Akshaya Tritiya, falling on the third day of the Hindu month of Vaishakha, carries a sacred message of prosperity and success. Hence, purchasing gold on this day is considered to bring good returns in the long run. Traditionally associated with gold purchases, this festival has evolved into a day for forward-thinking investments.

Ahead of India’s inclusion in the JP Morgan GBI-EM Global Index Suite, the majority of the clients of the index have their accounts set up to trade in Indian government bonds, with any “teething issues” related to operational readiness rather than barriers to entering the local market, Gloria Kim, Managing Director, Global Head of Index Research & Co-Head of Global ESG Research, J.P. Morgan, said to ET. Edited excerpts: Ahead of India’s June 28 inclusion in the GBI-EM Global Index Suite, how have operational metrics evolved in the country’s bond markets? Are global clients prepared for the process? Gloria Kim: Based on the annual Index Governance Consultation process, market feedback so far has been largely positive. Majority of our clients already have their accounts set-up to trade in the IGB market. Moreover, we see positive market momentum as there are now several India-focused Bond ETFs and UCITs funds offering intra-day liquidity. As always, there are still teething issues when entering a new market, however we have found these to be related to mostly operational readiness and flexibility of counterparties and custodians rather than barriers to entry.

Bitcoin’s subtle rally to $61,425 signals a potentially stabilizing market. As Bitcoin ETFs like Grayscale and Bitwise see renewed inflows, totaling $11.54 million recently, optimism grows.

Grayscale, the company behind the world’s largest Bitcoin (BTC) ETF, saw flat revenues in Q1 despite non-stop outflows from its world-famous fund throughout the quarter.

Shares of Arm Holdings fell 6% on Thursday as the chip designer's downbeat annual revenue forecast cooled some of the enthusiasm around the stock following its AI-powered jump in recent months. The slide was set to wipe out more than $8 billion in market value at the current level of $99.51.

Crypto asset manager Grayscale Investments' proposal for an exchange-traded fund tied to ether futures was withdrawn last week, according to a Tuesday notice from the U.S. Securities and Exchange Commission.

Crypto lender Ledn revealed loans statistics for the first quarter on Thursday, surpassing all previous quarters since its inception in 2018.

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