ETF lineup sees significant churn so far in 2024 with 120 launches and 63 closures
Mar. 27, 2024 2:15 PM ET
By: Jason Capul, SA News Editor
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Through the first quarter of 2024, the exchange traded fund market has watched its family grow, although the market has also experienced a larger-than-usual churn. Twice the number of new fund launches have taken place compared to those that have closed up shop. Meanwhile, the numbers of both launches and closures are well above the previous couple years.
So far this year, ETF issuers have launched a total of 120 new ETFs. This was a step up from the pace that was observed back in 2023 and 2022, when issuers launched 75 and 96 funds, respectively.
Looking at the closure side of the equation, ETF shops discontinued 63 total ETFs so far in Q1. This figure is significant, coming in well above the closures that 2023 saw up to this point in the year. At the same time, the figure is more than triple what was seen in 2022.
In 2023, 38 ETFs closed up at this point in the year. In 2022, that figure was 18.
Popular ETFs launched in 2024 include a group of Bitcoin ( BTC-USD) funds, along with a couple of Magnificent 7-focused ETFs. Meanwhile, single-stock performance-based ETFs have also been a critical theme.
See some of the launches in 2024 below:
Bitcoin ETFs: (NYSEARCA: GBTC), (NASDAQ: IBIT), (NASDAQ: BRRR), (BATS: ARKB), ( BTCO), ( HODL), (BTXW), BITB), ( FBTC), and ( EZBC).
Magnificent 7 ETFs: ( MAGX) and ( MAGQ).
Single Stock ETFs: ( MSFX), ( AAPX), and ( GOOX).
From a closure perspective, Wall Street watched some notable thematic cannabis and metaverse ETFs close up, along with geographically focused China ETFs. See some of the closures in 2024 below:
Cannabis ETFs: ( THCX) and (POTX).
Metaverse ETF: ( VR).
China ETFs: (CHIH), (CHB), ( CHIU), ( CHIM), CHIX), (CHIK), (CHIS), (CHII), and (CHIE).
ETF launch and closure data is per ETF.com. |
