Wall Street’s top regulator has paved the way for a new kind of exchange-traded fund that won’t immediately disclose its investments to the public. This marks a major change in an industry long applauded for low-cost transparency. Most ETFs reveal their holdings every day. The portfolio information is vital to big trading firms that use the information to keep ETF prices in line with the value of their underlying assets. However,...

Source: Wall Street Journal April 08, 2019 18:36 UTC