James Seyffart

NEW THIS MORNING: I wrote about the saga to launch SpaceX linked and levered ETFs in the US. There are at least 25 filed by 14 different issuers with about a dozen looking to launch on Monday. The intensity of the filings is likely something we'll see for Anthropic & OpenAI too!

This sums it up @JSeyff @EricBalchunas @DaveNadig

Sunday funday one day early. Towpath running >>>

The SK Hynix ADR jumped 13% on its first day on $18b in volume, biggest Day One for an ADR since $BABA 12yrs ago which did $25b. That's a good sign for the 2x ETFs prospects, that battle royale kicks off on Tuesday.

Yea… @CorgiFunds is on an absolute tear. Absolutely relentless spaghetti cannon. But more importantly — check out our tools at BI ETF<Go> if you have a Bloomberg Terminal. Reach out to me via IB and I’ll gladly show you how to make these charts!

@etfAction @FrancisSharoon 🤷🏼‍♂️

@JSeyff @FrancisSharoon Great work here, James! And everyone knows they have to reset leverage at close (or last half hour) everyday. What could possibly go wrong?!?

NEW: Levered Single Stock ETFs have become the tail wagging the dog for some stocks. Here's a GIF of that growth from @FrancisSharoon. When you account for the leverage built into these we're seeing them get to alarming levels as a % of underlying stock volumes $BMNR $MSTR $RGTI

We officially have ETF filings for what are essentially actively managed event contract portfolios AKA prediction markets! Including one that will bet on sports.. No way these get approved anytime soon but they'll sit on the shelf and hope the SEC allows this stuff in the future

We both want bad actors held accountable. The difference is I’m working on solutions, you’re shouting into the void hoping the status quo fixes itself. Sec. 303 enables new crypto sanctions on Iran. Sec. 305 lets exchanges stop illicit funds before they reach North Korea.

The Clarity Act dedicates an entire title to illicit finance and sanctions compliance for digital asset firms, expanded Treasury special measures, and blockchain intelligence tools to detect sanctions evasion. It makes evasion harder, not easier.

Here's video version showing the explosive growth of Single Stock ETFs when viewed as their combined levered notional $$ volume relative to a given stock

@markvalorian @FrancisSharoon accounting for the notional exposure of the underlying ETFs. You get to some points, like when $BMNR's levered ETFs had north of 100% of the $$ volume that was traded in $BMNR directly for the same week. Without accounting for leverage the number was still ~52% at its peak.

Are you telling me leveraged ETFs structurally account for this much of the volume in the underlying ticker? Surely not I assume this just a translation of leveraged ETF dollar volume * leverage multiple, compared to the underlying’s dollar volume? In that case it’s a discrete thing and not necessarily directly “wagging” the underlying.

@FrancisSharoon Notably the names with the highest relative impact tend be smaller or mid size stocks and they tend to be loved by the retail trading crowd... here's link to our full note: blinks.bloomberg.com/news/stories/T…

🚨NEW: Senator @RonWyden (D-OR) is asking Senate leaders to preserve the Blockchain Regulatory Certainty Act, as passed by the Senate Banking Committee, in any version of the Clarity Act brought to the floor. It comes amid uncertainty over whether certain key law enforcement groups will accept the BRCA language and whether changes will be needed to win their support, as well as the votes of other Democratic senators like Senators @CortezMasto and @MarkWarner. In a letter to Thune and Schumer, Wyden says the provision would codify existing federal policy by clarifying that non-custodial software developers should not be treated as money transmitters solely for publishing software, while preserving the DOJ’s and FinCEN’s ability to pursue illicit actors. Wyden was the Democratic co-sponsor of the standalone BRCA legislation in the Senate alongside @SenLummis.

Today i looked at US leverage ETF AUMs because they are growing and getting lopsided to the Long side. Even after this recent minor pullback. (at least minor for now?) Things have essentially gone vertical with the AI hype pushing them along

Couple of ETFs filed that will track the S&P 500 and Nasdaq 100 but will exclude @elonmusk's companies...

@ltabb @elonmusk it's a free market !! lol

@JSeyff @elonmusk That is so funny. The I love the S&P but hate Elon ETF

Here's what these numbers look like in aggregate. And what those aggregate numbers look like when you account for the leveraged notional exposure embedded in those AUM's and $$ Volumes. Truly a sight to behold. Here's the report with these charts & more: blinks.bloomberg.com/news/stories/T…

@BitcoinArchive When did it get out of "extreme fear" ??? lol

JUST IN: Bitcoin hits 'Extreme Fear" on the Index. Time to start buying...