Reported 2 days ago
The newly launched Simplify Government Money Market ETF (SBIL) has successfully gathered $2.1 billion in assets during its first week of trading, marking a significant milestone for a freshly established fund. Launched on July 14, SBIL operates under the Investment Company Act of 1940's Rule 2a-7, allowing for a floating net asset value and intraday trading, differing from traditional money market funds. This ETF's rise coincides with growing interest in ultra-short-term bond ETFs, positioning it as a major player in a budding investment category.
Source: YAHOO