Greed, intrigue, and death are the stuff of detective novels, but there’s plenty in the more mundane mystery of two very different exchange-traded products that were at the center of the great volatility blowup on Monday.
The ETN, a debt obligation underwritten by Credit Suisse, was killed, but the ProShares ETF survived. But how that happened is shrouded in mystery.
While many are scrutinizing the death of this volatility ETN, it isn’t unique. A Barclays ETN died in similar fashion under similar circumstances, notes Mike Venuto, and ETF industry veteran and chief investment officer os Toroso Investment.
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