SPDR Bloomberg High Yield Bond ETF (JNK) Experiences $214.1 Million Outflow

The SPDR Bloomberg High Yield Bond ETF (JNK) experienced a $214.1 million outflow, a 2.6% decrease week over week, from 85.674 million to 83.474 million shares outstanding. This outflow is notable and can impact the individual components held within the ETF. The one-year price performance of JNK is shown in the chart, with a 52-week range of $90.405 to $97.90 per share, and a last trade of $97.39.

Grayscale has filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) to convert the Grayscale Avalanche Trust into a Nasdaq-listed Grayscale AVAX ETF. The filing, which names Coinbase Custody as custodian and BNY Mellon as administrator, seeks SEC approval to offer spot AVAX exposure to brokerage accounts and potentially boost AVAX liquidity and institutional access [1].

The proposed AVAX ETF structure would allow investors to buy shares on Nasdaq through regular brokerages, providing a regulated wrapper for AVAX exposure. Historically, spot crypto ETFs have increased institutional inflows and secondary-market liquidity for the underlying tokens. If the SEC approves the Grayscale AVAX ETF, institutional and retail demand via brokerages could raise AVAX trading volumes and reduce execution friction for larger buyers [1].

Key regulatory and operational milestones include SEC review of the S-1, any comment-response cycles, and final approval for Nasdaq listing. Operationally, custody arrangements, auditing processes, and fund administration must be finalized prior to launch. The Grayscale AVAX ETF filing compares favorably to other spot crypto ETFs, particularly in terms of potential impact on AVAX liquidity and broader access [1].

Separately, the First Trust High Yield Opportunities 2027 Term Fund (FTHY) declared a monthly common share distribution of $0.125 per share for September 2025. This distribution represents a rate of 9.97% based on the Fund's NAV of $15.04 and 10.20% based on the market price of $14.70 as of August 19, 2025. Payment will be made on September 25, 2025, to shareholders of record as of September 2, 2025 [2].

The SPDR Bloomberg High Yield Bond ETF (JNK) experienced a notable outflow of $214.1 million, a 2.6% decrease week over week, from 85.674 million to 83.474 million shares outstanding. This outflow, which occurred between July 1 and July 2, 2025, is significant and can impact the individual components held within the ETF. The one-year price performance of JNK is shown in the chart, with a 52-week range of $90.405 to $97.90 per share, and a last trade of $97.39.

References:
[1] https://en.coinotag.com/grayscale-files-s-1-for-avax-etf-on-nasdaq-could-boost-institutional-access-and-liquidity-pending-sec-approval/
[2] https://www.gurufocus.com/news/3071830/first-trust-high-yield-opportunities-2027-term-fund-declares-its-monthly-common-share-distribution-of-0125-per-share-for-september-fthy-stock-news