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Finance

Global financial firms step up push into South Korea, targeting retail ETFs and institutional alternatives

Global financial firms are increasingly turning to South Korea as they expand local footholds to target demand from retail investors for overseas investment products and from insurers and pension funds for alternative assets. Alternative investment manager Hayfin said it will broaden cooperation with Korean institutional investors via its Seoul office. U.S. ETF managers Tradr ETFs and Tuttle Capital Management cited sizable Korean ownership in their assets.

Crypto

REX Shares and Tuttle launch ASSX, a 2x leveraged ETF tied to Strive shares

ETF manager REX Shares and asset manager Tuttle Capital Management have launched a leveraged ETF designed to track twice the daily performance of bitcoin treasury company Strive’s stock. The product, called the T-REX 2X Long ASST Daily Target ETF, trades under the ticker ASSX and began trading on Cboe on Sept. 18. It does not hold bitcoin and is not a bitcoin price-tracking product. Leverage is reset daily, so returns can diverge over holding periods longer than a day.

Crypto

U.S. investors can buy options on Canadian XRP ETFs, expanding regulated derivatives

Options on XRP exchange-traded funds listed in Canada have been registered for sale to U.S. investors, expanding access to regulated XRP-linked derivatives. The Canadian Derivatives Clearing Corporation registered options based on the Evolve XRP ETF and Purpose XRP ETF under the Form S-20 framework. The filing does not mean the options are directly listed on a U.S. exchange. The framework already covers options tied to bitcoin, ether and solana ETFs.