JPM's Success As Active ETF Mngr, NYSE Builds for 24/7 Trading of Tokenized ETFs | ETF IQ 1/21/2026

Watch on YouTube ↗  |  January 21, 2026 at 19:08  |  18:45  |  Bloomberg Markets
Speakers
Eric Balchunas — Senior ETF Analyst, Bloomberg Intelligence
Jed Laskowitz — Global Head of Private Markets and Customized Solutions, JPMorgan Asset Management
Matt Tuttle — CEO & CIO, Tuttle Capital Management
Michael Blaugrund — Vice President of Strategic Initiatives, Intercontinental Exchange

Summary

Bloomberg ETF IQ reviews a big January for ETF flows, with emerging markets and previously left-behind segments such as equal weight, mid-caps and financials drawing money. JPMorgan's Jed Laskowitz discusses continued diversification outside the U.S., a significant opportunity in active fixed income, and caution about private assets in ETFs. NYSE/ICE's Michael Blaugrund outlines plans for a 24/7 tokenized trading venue for stocks and ETFs and growing real-world asset tokenization. Tuttle Capital's Matt Tuttle explains a new meme-stock income ETF that sells puts, along with stalled or speculative product launches (GRFT, UFOD) and his sub-advisory role on Trump Media technology ETFs.

  • January ETF inflows topped $100 billion, with emerging markets pacing toward a record month and flows spread across 72 emerging markets.
  • Equal weight (RSP), mid-caps and financials are drawing flows as left-behind market segments catch up with the Mag Seven-led U.S. rally.
  • Jed Laskowitz of JPMorgan expects U.S. investors to keep diversifying abroad, with emerging markets helped by a weaker dollar and likely lower rates.
  • Laskowitz sees active fixed income as a significant opportunity and says JPMorgan is not yet adding private assets to its ETF lineup.
  • ICE/NYSE is working with the SEC on a venue for 24/7, fractional, tokenized trading of stocks and ETFs and expects real-world asset tokenization to expand.
  • Tuttle Capital launched a meme-stock income ETF that sells puts rather than calls, aimed at investors tired of 3%-4% yields.
  • Tuttle's planned political-access ETF (GRFT) remains unlisted, and his UFO Disclosure ETF (UFOD) is a speculative, undisclosed-portfolio concept.
  • Tuttle is a sub-adviser on newly launched Trump Media technology ETFs targeting conservative-side demand.
Ideas
Eric Balchunas Senior ETF Analyst, Bloomberg Intelligence 0:41
Left-behind segments catch up on flows.
Beyond the Mag Seven-led U.S. market, the 'left-behind' parts of the market are catching up: equal weight (RSP), mid-caps and financials are attracting flows and performance as the rally broadens.
Eric Balchunas Senior ETF Analyst, Bloomberg Intelligence 1:11
Emerging markets see broad record flows.
Emerging markets have caught a powerful wave of fund flows: three straight months of mega-flows, on pace for a record January of roughly $11 billion, with 72 different emerging markets taking in money, which shows breadth and depth behind the move.
Jed Laskowitz Global Head of Private Markets and Customized Solutions, JPMorgan Asset Management 2:24
Diversify abroad; weak dollar favors EM.
The rest-of-world outperformance should continue as a good market backdrop; U.S. investors have been under-invested abroad and should keep diversifying, and emerging markets in particular are favored by a weaker dollar and the likelihood of lower rates.
Jed Laskowitz Global Head of Private Markets and Customized Solutions, JPMorgan Asset Management 2:42
Small caps drive out-of-favor rotation.
There are a number of unloved, out-of-favor parts of the market that investors are working through, including small caps, which have outperformed large caps over the past year, as attention rotates away from the mega-cap winners.
Jed Laskowitz Global Head of Private Markets and Customized Solutions, JPMorgan Asset Management 3:52
Active fixed income offers significant opportunity.
Active fixed income is a significant opportunity going forward: it is seeing massive ETF inflows, 80% of the mutual fund industry is active, and fixed income benchmarks are easier to beat because the indexes are not particularly well constructed and leave many opportunities unaccounted for.
Matt Tuttle CEO & CIO, Tuttle Capital Management 13:43
Meme-stock put selling generates income.
Income demand is exploding as investors tire of 3%-4% yields, and volatile meme stocks generate rich option premium, so the fund sells puts (not calls) on meme names to harvest that income while keeping unlimited upside, a strategy built out of daily thematic research.
Up Next

This Bloomberg Markets video, published January 21, 2026, features Eric Balchunas, Jed Laskowitz, Matt Tuttle discussing RSP, IJH, XLF, EEM, ACWX, US Small Caps, Active fixed income ETFs, MEMY. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Eric Balchunas, Jed Laskowitz, Matt Tuttle  · Tickers: RSP, IJH, XLF, EEM, ACWX, US Small Caps, Active fixed income ETFs, MEMY