New and old players alike continue to launch their own ETFs, despite timing issues and their own critiques.

On Wednesday, San Francisco-based ETF strategist Main Management debuted its first ever ETF, naturally a fund of funds. The fund, the Main Sector Rotation ETF (SECT), lists on Bats and is built on Main's founding strategy, the "Main Management Active Sector Rotation Strategy", Main's Luke King (managing director of trading and business development) tells ETF.com.

Meanwhile, on Wednesday the NYSE withdrew its SEC application to list the EtherIndex Ether Trust ETF, after EtherIndex amended the filing two weeks before the SEC was set make a decision on approving or denying the application. Yet EtherIndex chief financial officer Joseph Quintilian (also partner at futures trading firm Axiom Markets) tells Reuters that this is just a delay, "a timing issue," and that the company will refile as soon as there are "the appropriate developments in the marketplace." Ether is a cryptocurrency, like Bitcoin, that is tied to Blockchain.

Also this week, Bloomberg reports that ETF critic Mark Yusko of Morgan Creek Capital Management is himself getting into the ETF business, again. Yusko manages about $2.5 billion (mostly invested in hedge funds, the publication writes), and he has long questioned rules-based ETFs that have "no ability to think". Yusko is teaming up with AdvisorShares [profile] to create an an actively managed ETF that will rotate through his 10 best investment ideas, largely alternative investing ideas. This is actually Yusko's second ETF alliance with AdvisorShares, which in May shuttered the six-year-old AdvisorShares Morgan Creek Global Tactical ETF. 

Edited by: Neil Anderson, Managing Editor


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