Someone is launching a 4x S&P 500 ETN with the ticker $XXXX, which would be a leveraged amount record in the US

omeone is launching a 4x S&P 500 ETN with the ticker $XXXX, which would be a leveraged amount record in the US, per Eric Balchunas of Bloomberg.

Other ETFs have launched recently, per Bloomberg.

A specialized issuer is introducing a biotechnology exchange-traded fund (ETF) with a focus on companies capitalizing on the enthusiasm surrounding weight-loss drugs.

The Tema Cardiovascular and Metabolic ETF (ticker HRTS) concentrates on companies engaged in the treatment of cardio-metabolic diseases, linking cardiovascular diseases, obesity, and diabetes. This ETF, featuring a unique investing mandate in the thematic allocations domain, comes with a 0.75% management fee.

Managed actively, the fund maintains 20 to 25 core positions, including major players like Eli Lilly & Co. and Novo Nordisk A/S, alongside Arrowhead Pharmaceuticals Inc. and Bridgebio Pharma Inc., according to Maurits Pot, founder and CEO of Tema ETFs.

Its launch aligns with a period of increased attention on a new wave of obesity drugs. Notable medications include Novo’s Ozempic, initially designed for diabetes treatment, and Wegovy, along with Eli Lilly’s diabetes drug Mounjaro and Zepbound, which recently gained approval for obesity treatment. Novo's American depositary receipts have risen more than 50% this year, while Eli Lilly's shares surged more than 60%.