The SPDR SSGA Apollo IG Public & Non-public Credit score ETF (PRIV) headlined February’s 81 ETF launches, because it makes use of a singular method to supply buyers entry to personal credit score. Previous to this launch, non-public credit score ETFs held both enterprise improvement corporations (BDCs) or collateralized mortgage obligations (CLOs). PRIV navigated the SEC’s requirement that no more than 15% of an ETF’s publicity be in illiquid securities, by stating that Apollo will act as a liquidity supplier for the non-public loans. On Feb. 28, 2025, Bloomberg Information reported that PRIV will seemingly drop ‘Apollo’ from its identify in response to a letter from the SEC highlighting that the identify may very well be deceptive since Apollo will not be obligated to promote debt to the fund and isn’t an advisor or sponsor of the fund.
Two different notable February ETF launches have been Blackrock’s iShares Prime Cash Market ETF (PMMF) and iShares Authorities Cash Market ETF (GMMF). These are the primary ETFs to adjust to the SEC’s 2a-7 cash market fund necessities after the launch of the Texas Capital Authorities Cash Market ETF (MMKT). Desk 1 offers an inventory of all bond ETFs launched within the U.S. in February 2025.
Fairness ETF Listings in February 2025
Desk 2 lists the 50 new fairness ETFs listed within the U.S. in February 2025. The pattern of buffered and leveraged/inverse launches continued, with 10 and 27 new listings, respectively, collectively accounting for 74% of the fairness ETF listings within the month.
Abrdn entered the U.S. fairness ETF asset class with two product launches. The agency’s prior ETF launches within the U.S. have been targeted on the commodities area. Cohen & Steers, which is well-known for its actual property funds, was a brand new entrant to the ETF trade with the launch of three merchandise targeted on actual property, most popular shares and pure sources. Intech additionally entered the ETF area with two lively merchandise targeted on diversified small-mid cap and enormous publicity. Three different corporations that entered the ETF trade through fairness ETF launches included Longview Analysis Companions, JLens, and RockCreek.
Various & Multi-Belongings ETF Listings in February 2025
February’s ETF launches expanded the universe of cryptocurrency ETFs, which included merchandise that present draw back safety to bitcoin publicity. These merchandise may very well be well timed provided that spot bitcoin declined to $86,032 as of the February month finish, from its 2025 excessive of $109,115 on Jan. 20, 2025. Bitcoin costs, like different risk-on property, are typically impacted by excessive rates of interest, and the potential of extra tariffs seems to be weighing on spot bitcoin. Nevertheless, the asset class may benefit from regulatory tailwinds if the U.S. Congress passes favorable crypto regulation later within the 12 months.
Elm Companions was one other new entrant to the ETF trade this month, with a tactical multi-asset launch. Different corporations that launched tactical multi-asset merchandise included 3Fourteen and Twin Oak.
The complete checklist of other and multi-assets ETFs launched within the U.S. in February 2025 is supplied in Desk 3.
