Market Overview - Stocks are wavering as investors prepare for NVIDIA earnings and a delayed jobs report set to be released later this week [1] - ETF investors are showing resilience despite market fears, with Vanguard expected to take in more money than any ETF issuer has historically [2][3] Treasury and Fixed Income Trends - There is a consistent bid into Treasuries, with half of the flows this year directed towards actively managed fixed income ETFs as the Federal Reserve reduces rates [5][6] - Investors are diversifying from ultrashort to longer-duration bonds, anticipating further rate cuts [6][11] - Municipal bonds are attracting significant interest, with one actively managed ETF in the muni space holding about $10 billion in assets [7] High-Yield ETF Insights - Approximately 90% of high-yield ETF assets are currently in passive vehicles, indicating a bias towards passive investment strategies [12][13] - The shift towards active management is gaining traction, with 40% of overall fixed income flows moving to active strategies this year [15] Grayscale and IPO Developments - Grayscale has filed for an IPO, managing about $35 billion in assets across 40 products tied to over 45 tokens [23][24] - The firm has experienced revenue drops due to outflows, which significantly impact their financial performance [24][25] - Despite the current bear market in crypto, there is a strong desire among issuers to launch products quickly to capitalize on potential market recoveries [27][28] Thematic ETF Performance - The Psychedelics ETF, which invests in healthcare and biotech companies developing alternative treatments, has seen significant volatility and a decline in assets [31][32] - The ETF's performance is closely tied to public perception and acceptance of psychedelic treatments, which are gaining traction in clinical trials [34][36]
Growth of Municipal ETFs, Grayscale Drop After IPO Filing | ETF IQ 11/17/2025