Inside the $21T ETF Industry, Apollo's Role in 'PRIV | ETF IQ 4/20/2026

Watch on YouTube ↗  |  April 20, 2026 at 18:57  |  33:42  |  Bloomberg Markets
Speakers
Michael Baron — Editor-in-Chief, Blockworks
Eric Balchunas — Senior ETF Analyst, Bloomberg Intelligence
Jake Silverman — Reporter, CoinDesk

Summary

Bloomberg ETF IQ covers trends in the $21 trillion ETF industry, featuring discussions with Baron Capital on their active ETF launches and bullish long-term views on Tesla and SpaceX, and Apollo Management on the innovative PRIV ETF blending public and private credit. The show also analyzes rapid asset growth in the new DRAM memory ETF and a regulatory-driven surge in the psychedelics ETF PSIL.

  • Baron Capital discusses its expansion into actively managed ETFs and its long-term investment philosophy.
  • Michael Baron expresses strong conviction in Tesla and SpaceX as long-term holdings.
  • Apollo's Andrew Gosden explains the thesis behind the PRIV ETF, which combines public and private investment-grade credit.
  • Eric Balchunas presents ETF flow data showing a rotation from safe-haven to equity products in April.
  • Analyst Jake Silverman discusses the booming DRAM memory cycle driven by AI demand and the new DRAM ETF.
  • The psychedelics ETF PSIL sees a sharp price increase on positive regulatory headlines.
  • The episode includes a segment on the traffic light system ranking ETF risk and a trivia quiz.
Trade Ideas
Michael Baron Editor-in-Chief, Blockworks 6:12
Bullish on Tesla and SpaceX long-term.
Baron Capital believes in Elon Musk, his management teams, and the long-term mission and potential of Tesla and SpaceX, viewing current prices as attractive for buying with a multi-year to decade-long investment horizon, focusing on their competitive advantages and future growth in electric vehicles, space launch, Starlink communications, and AI training.
TSLA SPACEX HIGH
Andrew Gosden 12:41
PRIV ETF offers superior risk-adjusted returns.
The PRIV ETF is a novel public/private credit fund that disrupts the core plus category by replacing public high-yield exposure with private investment-grade credit, which offers better risk-adjusted returns (higher return, lower volatility) due to its senior secured nature, a thesis validated by its performance and interest from sophisticated institutional investors.
PRIV HIGH
Jake Silverman Reporter, CoinDesk 25:52
Bullish on DRAM cycle driven by AI.
The DRAM memory chip cycle is in an extended boom phase driven by AI demand, specifically for high-bandwidth memory, which is causing supply constraints and price increases. The market is dominated by a few key players like SK Hynix, Samsung, and Micron, and the DRAM ETF provides concentrated exposure to this trend, with the industry expected to grow from $75B to $135B in two years.
DRAM MED
Eric Balchunas Senior ETF Analyst, Bloomberg Intelligence 31:09
PSIL ETF responsive to regulatory catalysts.
The PSIL (psychedelics) ETF, which had been depressed, saw a significant price pop and high trading volume after positive regulatory news (an executive order expediting research), suggesting that any good news can lead to substantial upside in such beaten-down, headline-sensitive thematic ETFs.
PSIL MED
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This Bloomberg Markets video, published April 20, 2026, features Michael Baron, Andrew Gosden, Jake Silverman, Eric Balchunas discussing TSLA, SPACEX, PRIV, DRAM, PSIL. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Michael Baron, Andrew Gosden, Jake Silverman, Eric Balchunas  · Tickers: TSLA, SPACEX, PRIV, DRAM, PSIL