Latest news with #NYSEArca
Business Wire
3 days ago
- Business
- Business Wire
State Street Appointed Servicing Provider for COtwo Advisors' First US-Listed Physical Carbon Allowance ETP
BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) today announced that it has been appointed as fund administrator and transfer agent for the COtwo Advisors Physical European Carbon Allowance Trust (NYSE Arca: CTWO)—the first US-listed exchange-traded product (ETP) backed by physical European Union Allowances (EUAs). The CTWO fund, launched by COtwo Advisors, provides investors with direct exposure to the European Union Emissions Trading System (EU ETS), the world's largest and most liquid carbon market. The fund is designed to offer a tax-efficient, transparent, and accessible vehicle for carbon allowance investing, with trading available on NYSE Arca. As servicing provider, State Street will deliver a full suite of exchange traded fund (ETF) infrastructure solutions—including fund accounting, administration, and transfer agency—to provide operational efficiency, scalability, and reliability to support COtwo's innovative fund. 'Launching CTWO with State Street as our servicing partner will help us deliver a seamless and reliable experience to investors,' said Ron Gutstein, Founder & CEO COtwo Advisors LLC. 'Their deep ETF servicing capabilities and global operational scale make them an ideal partner as we expand access to the EU carbon market.' 'We are pleased to support COtwo Advisors in bringing this pioneering carbon market product to US investors,' Jeff Sardinha, head of ETF Solutions- Americas, State Street. 'Our appointment reflects our commitment to delivering full-service expertise needed to support a wide range of our clients' investment solutions.' CTWO is structured to hold physical European Union Allowances (EUAs), avoiding the decay and tax inefficiencies associated with futures-based products. The fund also enables extended trading hours for EUA exposure via NYSE Arca, allowing investors to respond to market developments after European markets close. For more than 30 years, State Street has been at the forefront of ETF innovation, helping shape what is now a global $14 trillion ETF marketplace. Today, State Street remains the world's largest ETF servicer, supporting more than 2,800 ETFs across 13 countries. With fully integrated global ETF servicing capabilities, State Street enables clients to efficiently engage with the evolving ETF landscape through its proprietary technology and scalable operating model. From fund launch to ongoing operations, State Street's solutions are designed to align with industry best practices—regardless of structure, asset class, or investment strategy. 1 About State Street Corporation State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $46.7 trillion in assets under custody and/or administration and $4.7 trillion* in assets under management as of March 31, 2025, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street's website at *Assets under management as of March 31, 2025 includes approximately $106 billion of assets with respect to SPDR ® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
Yahoo
4 days ago
- Business
- Yahoo
NYSE Content Advisory: Pre-Market update + Wall Street watches the Middle East
NEW YORK, June 24, 2025 /CNW/ -- The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today's NYSE Pre-market update for market insights before trading begins. Kristen Scholer delivers the pre-market update on June 24th Equities are rising Tuesday morning as traders closely monitor the latest developments in the Middle East. On Monday, the major averages rose by close to 1% amid the region's ongoing conflict. At approximately 6 PM ET yesterday evening, President Donald Trump announced on Truth Social that a ceasefire agreement has been reached between Israel and Iran. However, Israel and Iran launched more missiles after the start of the ceasefire. Investors will get a read on consumer confidence this morning. The index showed a mild rebound in May following the pause on some tariffs between the U.S. and China. Opening BellEdwards Lifesciences (NYSE: EW) celebrates its 25th anniversary of listing Closing BellTweedy, Browne celebrates the launch of Tweedy, Browne Insider + Value ETF (NYSE Arca: COPY) Click here to download the NYSE TV App View original content to download multimedia: SOURCE New York Stock Exchange View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
20-06-2025
- Business
- Business Wire
COtwo Advisors Launches First Exchange Traded Product for Physical European Carbon Market
NEW CANAAN, Conn.--(BUSINESS WIRE)--COtwo Advisors, LLC proudly announces the launch of the first Exchange Traded Product (ETP) offering efficient access to the physical European carbon market. This innovative financial product provides investors with physical exposure to the European Union Allowance (EUA) market, simplifying investment in carbon allowances. With our listing on the NYSE Arca, anyone can now efficiently and inexpensively invest in carbon allowances. Share Headquartered in New Canaan, CT, COtwo Advisors was founded with the mission to make carbon investing accessible to all. The COtwo Advisors Physical European Carbon Allowance Trust (NYSE Arca: CTWO), aims to reflect the performance of EUA prices, allowing investors to participate in the growing carbon market without complicated custody arrangements. The Trust's assets consist primarily of EUAs issued via the European Union Emission Trading System (EU ETS), where each EUA represents the right to emit one ton of carbon dioxide equivalent. 'Our goal is to provide efficient, low-cost access to the world's largest and most liquid mandatory carbon market,' said Ron Gutstein, COtwo president and founder. 'CTWO has several benefits for both investors and companies with requirements under the EU ETS. Investors can gain easy exposure to a unique asset class and can hedge the impact of carbon prices on their portfolio companies. Companies with obligations under the EU ETS can use CTWO to hedge their obligations and account for their investments in EUAs in a more precise manner on their balance sheets.' For more information, visit (for current prospectus: or contact info@ About COtwo Advisors, LLC: COtwo Advisors was created with the vision of making carbon allowance investing straightforward and accessible to all. The COtwo Advisors Physical European Carbon Allowance Trust (CTWO) provides a unique opportunity for those interested in carbon markets, offering exposure to the European Union Emissions Trading System (EU ETS), the world's largest and most liquid carbon market. Investors should carefully consider the investment objectives, risks, charges, and expenses of the fund. This and other important information is in the fund's prospectus, which can be obtained by calling (866) 990-6442 or by visiting Read the prospectus carefully before investing. Foreside Fund Services, LLC, serves as the Marketing Agent for the Trust.
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Arabian Post
16-06-2025
- Business
- Arabian Post
Trump-Linked Truth Social Submits Bitcoin & Ethereum ETF Filing
Issuing its first formal financial move beyond social media, Truth Social's parent, Trump Media & Technology Group, has filed an S‑1 registration statement with the U.S. Securities and Exchange Commission to launch a Bitcoin and Ethereum exchange‑traded fund under the Truth Social brand. The application outlines plans to list the fund on NYSE Arca, although ticker symbols and fee structures have yet to be disclosed. NYSE Arca initiated the process on 3 June 2025 by submitting a Form 19b‑4 on behalf of TMTG and partner Yorkville America Digital, seeking approval to list the dual‑crypto ETF. The S‑1 filing followed on 5 June and provides deeper insights into structure and risk disclosures. The filings initiate the standard dual‑review process; the SEC has a 45‑day window for initial decision and up to 240 days for final approval. The prospectus confirms that the fund will hold spot Bitcoin and Ethereum—the first dual‑crypto vehicle under the Truth Social banner. Physical custody of assets will be handled by Foris DAX Trust Company, affiliated with which will also serve as execution agent and liquidity provider. Yorkville America Digital, a Florida‑based asset manager that emphasises 'Made‑in‑America' digital‑asset products, is named as the sponsor. ADVERTISEMENT Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, noted the risk disclosures reference President Trump's crypto‑favourable posture—highlighting regulatory shifts, the SEC's newly launched crypto task force, and a strategic U.S. Bitcoin reserve executive order—marking the first time an ETF filing openly tied a sitting president's actions to fund risk. The launch is part of a broader the strategic pivot by Truth Social into financial services. Earlier this year, Trump Media announced a $2.5 billion Bitcoin treasury initiative and submitted trademark applications under its brand for various crypto‑focused products. The move aligns with similar industry trends—11 spot Bitcoin ETFs have been approved since January 2024 by providers including BlackRock, Fidelity and Grayscale—a venue drawing billions in investor capital. Yet the dual‑crypto ETF enters a saturated market, and analysts caution that without distinctive value, it may not draw substantial flows despite its political branding. Market watchers observe that assets under management in competing spot Bitcoin ETFs are heavily concentrated—with BlackRock's IBIT holding approximately $69 billion, followed by Fidelity's fund at around $21 billion. The filings also highlight potential conflicts of interest. Yorkville America has financial ties with TMTG, including advising on and investing in both the firm's stock and private placement used to bolster the Bitcoin treasury. The application explicitly acknowledges these links may pose risks to investors. Timing is politically significant, with the SEC's current leadership under Paul Atkins perceived as taking a more crypto‑friendly stance. SEC deregulation efforts under President Trump's administration also form part of the context. Should the ETF be approved, it will enable investors to gain regulated exposure to Bitcoin and Ethereum—devoid of managing digital wallets or crypto‑exchange accounts—via traditional brokerage channels. The fund is poised to calculate daily net asset values, with intraday quotations updated every 15 seconds and comprehensive transparency on holdings, premiums and discounts. However, regulatory clarity remains pending. Absent from the filings are critical operational details, including ticker symbols, expense ratios and seed capital levels. Until the S‑1 becomes effective, the ETF cannot be marketed to investors. This marks a strategic landmark in Truth Social's quest to diversify beyond digital media. Its expansion into crypto finance brings together political influence, regulatory momentum and mainstream investor demand, potentially reshaping its corporate identity. At stake is the fund's ability to carve a credible and competitive space among established crypto‑ETF leaders.
Business Wire
06-06-2025
- Business
- Business Wire
First Trust Announces Expected Effective Date of First Trust Specialty Finance and Financial Opportunities Fund Reorganization into FT Confluence BDC & Specialty Finance Income ETF
WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. ('FTA') announced today that, subject to the satisfaction of certain customary closing conditions, the reorganization of First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB), a closed-end management investment company, managed by FTA and sub-advised by Confluence Investment Management LLC ('Confluence'), into FT Confluence BDC & Specialty Finance Income ETF (NYSE Arca: FBDC), an actively managed exchange-traded fund ('ETF') managed by FTA and sub-advised by Confluence, is expected to become effective immediately before the opening of the NYSE on June 30, 2025. As previously announced, the shareholders of FGB approved FGB's reorganization into FBDC at a Special Meeting of Shareholders on May 5, 2025. The reorganization was approved by the Board of Trustees of each of FGB and FBDC on September 8-9, 2024. Upon the completion of the transaction, which is expected to be tax-free, the assets of FGB will be transferred to, and the liabilities of FGB will be assumed by, FBDC. The shareholders of FGB will receive shares of FBDC with a value equal to the aggregate net asset value of the shares of FGB held by them. FGB is a diversified, closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of attractive total return. Under normal market conditions, FGB pursues its investment objectives by investing at least 80% of its Managed Assets in a portfolio of securities of specialty finance and other financial companies that Confluence believes offer attractive opportunities for income and capital appreciation. 'Managed Assets' means the total asset value of FGB minus the sum of FGB's liabilities other than the principal amount of borrowings, if any. FBDC is an actively managed ETF that seeks to provide a high level of current income, with a secondary objective of attractive total return. FBDC pursues these investment objectives by investing in BDCs and other specialty finance companies that Confluence believes offer attractive opportunities for income and capital appreciation. FTA is a federally registered investment advisor and serves as the Fund's investment advisor. FTA and its affiliate First Trust Portfolios L.P. ('FTP'), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $255 billion as of April 30, 2025 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois. Confluence Investment Management LLC, an SEC registered investment advisor, serves as the investment sub-advisor to FGB and the new ETF. The Confluence team has more than 600 years of combined financial experience and 400 years of portfolio management/research experience, maintaining a track record that dates back to 1994. As of March 31, 2025, Confluence had $12.7 billion in assets under management and advisement (assets under management = $7.2 billion; assets under advisement = $5.5 billion). Additional Information / Forward-Looking Statements This press release is not intended to, and shall not, constitute an offer to purchase or sell shares of FGB or FBDC. Certain statements made in this news release that are not historical facts are referred to as 'forward-looking statements' under the U.S. federal securities laws. Actual future results or occurrences may differ significantly from those anticipated in any forward- looking statements due to numerous factors. Generally, the words 'believe,' 'expect,' 'intend,' 'estimate,' 'anticipate,' 'project,' 'will' and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the historical experience of FTA and the funds managed by FTA and its present expectations or projections. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. FTA, FGB and FBDC undertake no responsibility to update publicly or revise any forward-looking statements. An investor should carefully consider the investment objectives, risks, charges and expenses of FGB or FBDC, as applicable, before investing. The prospectuses for FGB and FBDC contain this and other important information and are available free of charge by calling toll-free at 1-800-621-1675 or writing FGB or FBDC at 120 East Liberty Drive, Suite 400, Wheaton, IL 60187. The prospectus should be read carefully before investing.
