Late Friday, BlackRock announced it was delisting 50 of its funds from the NYSE Arca and changing their primary listing venue to the Bats or Nasdaq stock exchanges.
Thirty of the funds will find their way to the Bats exchange, while another 20 funds will be listed on the Nasdaq, with the changes set to occur on or about Aug. 1, according to a press release from BlackRock. Bats is owned by ETF.com's parent company, CBOE.
The ETF issuer’s head of capital markets, Samara Cohen, noted that “diversification is an important element of iShares listing strategy” by way of explanation for the move.
“A thriving market for ETFs requires a robust, resilient ecosystem, with multiple participants committed to continuous innovation and improving the client experience,” she added, pointing out that the firm maintains strong ties with all major exchanges.
The funds transferring to the Bats exchange include some very large and popular ETFs, such as the $27.9 billion iShares Core MSCI EAFE ETF (IEFA), the $13.6 billion iShares Edge MSCI Min Vol USA ETF (USMV), the $3.1 billion iShares Edge MSCI USA Momentum Factor ETF (MTUM).
The list of funds moving to the Nasdaq exchange includes the $18.3 billion iShares U.S. Preferred Stock ETF (PFF), the $17 billion iShares Select Dividend ETF (DVY) and the $13.2 billion iShares JPMorgan USD Emerging Markets Bond ETF (EMB).
iShares On 3 Exchanges
BlackRock’s press release noted that 209 U.S.-listed iShares will continue to maintain their primary listing on the NYSE Arca. The firm has 337 U.S.-listed ETFs currently trading.
The 30 iShares funds moving to the Bats exchange include the following:
The list of the 20 iShares ETFs moving to the Nasdaq is as follows:
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