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SPDR S&P 500 ETF tops record $500 billion in assets as Nvidia soars

A staggering rise in shares of chipmaker Nvidia helped the SPDR S&P 500 ETF Trust become the first exchange traded fund to top $500 billion in assets, market participants said. A sizeable chunk of those gains came from the surge in Nvidia, whose heavy weighting in the S&P 500 gives it an outsized influence on the indexโ€™s moves. โ€œThis is a result of Nvidia climbing to new highs rather than of fresh demand for the ETF,โ€ said Todd Rosenbluth, chief ETF strategist at VettaFi.
Suzanne Mcgee Todd Rosenbluth David Gregorio Ira Ioseabshvili Saqib Iqbal Ahmed Blackrock Inc
Source: aol.com

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