Markets & the Economy: Halfway…
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A nice quarter for stocks, divided neatly in halves: tech driven rip for six weeks, a peak in Mag7 coinciding with Cerebras IPO, followed by churn and rotation.
Hard to fault the overall trend, but some erratic behavior raises doubts about the rally’s integrity…
Add it to the ETF Line Up
New Launches: (week ending 7/3/26) a few highlights…
- DISK~ Tema Memory ETF
- LAZR~ Tema Photonics and Optical ETF
New Filings:
New AI Chips ETF filing by REX Shares
Corgi goes back to basics, finally with 17 NEW ‘Core Factor Equity’ ETFs slice and dicing the US market
ETF Check Up:
JUNE-SANITY: Unreal numbers in June for ETFs…
- Flows were $191B (2nd best MTh ever, $9b/day pace) w 2700 different funds taking in cash
- 214 new launches (10/day) which blows away records (Corgi accounted for about 100 of those)
- Volume was $7T
Total Assets in leveraged ETFs hits a record…
Leveraged ETFs despite the attention they receive they only account for 1-2% of ETF assets but… they make up 10% of all ETF trading & 1/3 of all new launches (avg fee is 1% so only need one hit to pay for many duds)
As of 7/2, about 200 ETFs now own SpaceX… Here a look at the ones with the most exposure by weight and by value…
Spot btc ETFs notched worst month of outflows since launching Jan 2024…over $4B
Source: Bloomberg data as of 7/2/2026
Performance numbers are as of the market close on Thursday, 7/2/2026