Finance
BlackRock Scores Biggest-Ever ETF Launch With New ESG Fund
- Carbon Transition Readiness ETF gets over $1 billion on debut
- Cash likely from large institutions lined up before first day
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An exchange-traded fund investing in U.S. companies that BlackRock Inc. considers most likely to prosper in the transition to a low-carbon world lured the most cash on record in its first day of trading.
Investors poured about $1.25 billion into the BlackRock U.S. Carbon Transition Readiness ETF (ticker LCTU) on Thursday, making it the biggest launch in the ETF industry’s three-decade history, according to data compiled by Bloomberg.