Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Only a couple of the new exchange traded funds that have come to market this year have proven to be impressive asset gatherers, meaning they have suprassed the supposedly all-important $100 million mark. There are some rookie ETFs that have not topped $100 million in assets under management, but have still proven to be solid additions to the overall ETF fray.
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The SPDR DoubleLine Emerging Markets Fixed Income ETF (BATS: EMTL) fits that bill. The SPDR DoubleLine Emerging Markets Fixed Income ETF debuted less than two months ago as part of an expansion that triple the size of the fixed income ETF partnership between Jeffrey Gundlach's DoubleLine Capital and State Street Global Advisors (SSgA), the third-largest U.S. issuer of exchange-traded funds.
In less than two months on the market, the actively managed EMTL has hauled in nearly $38 million in assets. Combine EMTL's lifespan with the asset-gathering proficiency, or lack thereof, of this year's other infant ETFs and it is fair to say EMTL is doing pretty well on a superficial basis.
More importantly, EMTL offers utility in the current market environment.
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“Investors considering an EM exposure to complement a fixed income core may want to do so using an active strategy. For example, the chart below shows the large divergence of returns we’ve seen in the last two years—analyzed in quarterly holding periods—across EM debt disciplines: local and dollar-denominated debt of both sovereigns and corporates. Even though these disciplines are all categorized under EM debt, the return profile in a given quarterly period is quite diverse, reinforcing the idea that not all EM debt is the same,” said State Street Vice President David Mazza in a recent note.
EMTL has a modified adjusted duration of 4.69 years and an average coupon of 5.34 percent. EMTL, which holds over 1,100 bonds. Over 62 percent of those holdings are rated Baa or higher while 37.1 percent are rated below Baa. The new ETF will look to top the JP Morgan Corporate Emerging Market Bond Index Broad Diversified.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.