When a new financial instrument launches and amasses assets fast, that’s usually a sign that the investment type, rather than the specific vehicle, is in high demand.
The Simplify Government Money Market exchange-traded fund (ticker: SBIL) made its debut on July 15, and quickly grew to $2.1 billion in assets under management (AUM) within a week.
Money market ETFs offer a modern twist on traditional money market mutual funds.
This post originally appeared at U.S. News & World Report.