ETF stand for Exchange Traded Funds and it is an investment vehicule that seeks to track the price of an asset.

According to the newsletter « ETF SHELF AND OUTER BEACH CONOR » the new crypto products that launched in November 2025 were :

1) Ripple (XRP), Solana, and Crypto Basket Products. As the SEC finished up their work clarifying regulatory pathways for these to get approval. Most of them have a reasonable expense ratio considering the underlier and have seen big flows .

2) Grayscale Dogecoin Trust (GDOG) have lunched with a 35 bps which seems like a good expense ratio for what is effectively a memecoin product.

3) KraneShares launched a pretty novel product, the KraneShares Wahed Alternative Income Index ETF (KWIN). This product gets around pesky Shariah-incompliant interest payments by generating income using options which has been approved by the relevant authorities.

4) State Street and S&P are collaborating (again) for a leverage loan ETF product (State Street SPDR S&P Leveraged Loan ETF (LVLN) .

5) Stellar products : Tom Lee has decided he wants to generate income with FundStrat Granny Shots US Large Cap & Income ETF (GRNI). This uses a similar basket to his successful Granny Shots product (GRNY) but adds an options income overlay that makes it way more expensive and gives away the upside that Tom is supposed to provide as the portfolio manager.

Note that Tom and team launched their new SMID cap product, the FundStrat Granny Shots US Small- & Mid-Cap ETF (GRNJ) which has a lower fee.

6) We have a bunch of other questionable active equity products with HEFTY expense ratios but also an incredibly expensive indexed product from Donoghue Forlines (never heard of them). This is their inaugural product, the DF Tactical 30 ETF (DFTT). It’s an index-based momentum product that comes in at a whopping 65 bps.

7) A new fund from Hedgeye Asset Management : they launched Hedgeye Fourth Turning Fund (HEFT) with an expense ratio of 70 bps.

What’s interesting is the strategy itself. If you’re not already familiar with Hedgeye, they’ve been an index and research provider for the asset management business for many years and have recently launched their own branded ETF products.

8) We have Tidal, traditionally a white label provider with none of their own funds, launching three indexed equity products under their own banner (kind of) for the first time. They’re launching them under the Portfolio Building Block issuer label, that name makes me happy, and it looks like there will be more on the way.

9) The next entries will be grouped together.

We have Portfolio Building Block European Banks Index ETF (PBEU), the Portfolio Building Block World Pharma and Biotech Index ETF (PBPH), and the Portfolio Building Block Integrated Oil and Gas and Exploration and Production Index ETF (PBOG).

All three clock in with 13 bps expense ratios and have indices provided by BITA.