Chris Sullivan

Could have been the first great villain of fashion-focused reality TV.

[Howard Chan @HowardFChan]

We took our time to develop $KYLD, a weekly distributing ETF. Roughly six months in, I’m happy to report the strategy is working out the way we intended: High growth, high implied vol, consistent weekly distribution, diversified risk basket. The 7.77 is just a lucky coincidence.

https://t.co/1qn2TnW1Us

[Chris Sullivan @CSullivanPR]

@EricBalchunas Eric...

[ETFDb @ETFDb]

The data is in. We are looking at the ETFdb traffic numbers for the last seven days to see exactly where investor attention is shifting. We always exclude broad beta trackers and total market funds from this specific analysis so we can get a clearer picture of targeted allocations. Here is what the pageviews tell us 🧵(1/6)

[OpenAssetsInc @OpenAssetsInc]

OpenAssets is now working with @awscloud (AWS) through the AWS Partner Network to support the deployment of tokenization platforms at enterprise scale.

With AWS already powering financial giants like JP Morgan Chase, NASDAQ, and Capital One as well as many of the world’s largest commercial enterprises, the joint effort now offers unprecedented capabilities for institutions to deploy their own tokenization platforms.

This enables institutions to deploy without building from scratch, reducing timelines from 18–24 months to weeks.

[Adam Patti @adampatti]

The $BRK.B annual meeting was insightful. Beyond the strong operating results, here are my takeaways:
⚡️Greg and Ajit had great chemistry, tough to follow the Warren and Charlie combo but the clear chemistry was a strong positive.
⚡️Greg took great pains to hammer home that Warren's investment philosophy guides all decisions and will not be deviated from.
⚡️Greg clearly had a firm grip on technology and AI, with interesting discussion around their utility assets becoming growth plays due to AI Datacenters. Perhaps his comfort with technology lends insight into future portfolio additions.

[Jake Hanley, CMT @MacroView_Jake]

@BostonGlobe VT based ETF Financial firm - 100% remote. Not actively hiring, but always looking to connect with those in the industry who love NE, but don’t want to give part of their life up to a commute.

[Finimize @finimize]

🗽 The Finimize Modern Investor Summit is landing in #newyork, and the speaker list is one of those "shoulda been there" moments:

@StephGuildNYC , @calebsilver , @LizThomasStrat , @matthew_sigel , @APompliano , @BilalSLittle , and Peter Nolan (@AnthropicAI ).

Be there with us and @vaneck_us in the moment: https://t.co/bfAnAsEhSa

[Chris Sullivan @CSullivanPR]

@EricBalchunas @JSeyff @roundhill I feel seen.

[Chris Sullivan @CSullivanPR]

@kgreifeld Amazing news, congrats!

[Chris Sullivan @CSullivanPR]

@JSeyff Boooooring.

[ExchangiFi @ExchangiFi]

ETF Prime: New Platform Simplifies 351 Exchanges

@Matt_Bucklin joins @NateGeraci on @ETFPrime to discuss 351 exchanges.

Prediction: 50-100 opportunities on the platform by year-end.

#ETFs

https://t.co/cIkBNNahLB

[ConvexityMaven @ConvexityMaven]

Fixing the housing market for less than $200bn: Mortgage Portability

Trump tweeted yesterday that he is ordering Fannie and Freddie to buy up to $200bn of MBS bonds. I suppose we need to see how the market opens today, but my off-the-cuff answer is "not much". 

The quick Street reply is 5bp to 15bp tighter to the T10yr rate, and that sounds about right given the relative size of the $7tn MBS market.

The FED announced QE1 of $500bn in November 2008, and then an expanded total of $1.25tn in March 2009; and this was on a much smaller total MBS market.

This first QE tightened MBS by about 40bps, but we were starting at 230bp on the way to 190bp. MBS eventually settled near 140bp until the second QR yanked spreads another 40bp to about 100bps.

Spreads spent most of 2010 near 80bps, or close to the long-run average of 75bp.

MBS closed 2025 at about 90bps, so can they open at 75bp to 85bp today, sure, but that all depends upon the speed of the buying. Remember, we are talking about a $7tn MBS market, so $200bn is not all that large, and at a certain level, banks and others will buy IG at 55bp.

NOTE: GSE privatization will have no impact on this news, but you know I oppose this as a path to Moral Hazard.

The question you are supposed to ask what policies might significantly impact housing...and the answer is Mortgage Portability.

GNMA loans are already Assumable, this means the loan stays with the House while the name of the Borrower changes. This does not help the housing market which is clogged by homeowners with 3% loans who cannot afford to move since their new rate of 6% would have a higher montly payment (even accounting for a lower Principal balance).

Portability means the Borrower of the loan is fixed and the address of the House changes. This frees up the market as people can now move to better jobs, or buy a larger home without a change in their payment plan.

And this is not crazy, in fact, it is less risky that an Assumable loan.

There are two risks to a loan, the Borrower's ability to pay and the value of the collateral (House price) if the loan defaults and needs to be sold. For an Assumable loan, the lender has unknown risk as the new Borrower may have a lower credit rating, which is bad.

For a Portable loan, the Borrower has already passed a credit check, and you keep their good name on the loan.  The only risk is the new House is worth less than the remaining balance so the collateral is worth less if needed to be sold in a foreclosure.

This is the policy that would most impact the housing market, and while a challenge, Trump + Pulte likely could jam it through since they directly control the GSEs.

@BillAckman

[Jan van Eck @JanvanEck3]

@elonmusk should read this

My proposed solution to the problem of returning power to shareholders: reduce the power of mammoth index fund companies.

⁦@Jason⁩ ⁦@chamath⁩
⁦@vaneck_us⁩ ⁦@matthew_sigel⁩
https://t.co/qtM3R55r9Z

[James Seyffart @JSeyff]

The @vaneck_us Solana ETF launched today -- Ticker $VSOL. Its sporting a 0% expense ratio

[WOLF @WOLF_Financial]

We are live right now with Wolf Partner @adampatti from @VistaSharesX

Talking about $DRKY $ACKY $OMAH and more

[Chris Sullivan @CSullivanPR]

Exciting day for us at @CraftandCapital as we celebrate being named PR & Communications Firm of the Year in the 2025 @Hedgeweek US Awards. Congrats to our team and all the winners and a big thank you to our clients! https://t.co/u0qrAxCbLx

[VistaShares @VistaSharesX]

Big News: VistaShares has surpassed $500 MILLION in AUM!

Just 8 months after launching our first ETF, we’ve hit a major milestone!

Led by ETF industry innovator Adam Patti and Jon McNeill, co-founder of DVx Ventures and former President of Tesla, our lineup includes:

OMAH – Target 15™ Berkshire Select Income ETF
AIS – AI Supercycle™ ETF
QUSA – Target 15™ USA Quality Income ETF   
WILD – Animal Spirits™ 2x Daily Strategy ETF  (

More to come. We're just getting started.

See full press release here: https://t.co/SQ5myE0omX

[The Daily Show @TheDailyShow]

Economic commentator Kyla Scanlon (@kylascan) joins Jon Stewart to discuss her book, "In This Economy?"

[Eric Balchunas @EricBalchunas]

The XRP ETFs seeing surge in volume today, like 4-5x the norm, especially the 2x one $XXRP, which is up 27% today, 55% this week with $120m in volume.. Teucrium rewarded for getting out early.. ht @Todd_Sohn