Wells Fargo Files With SEC to Provide Exchange-Traded Funds
- Joins rivals JPMorgan and Goldman Sachs in issuing own funds
- San Francisco-based bank currently has $2 trillion in assets
This article is for subscribers only.
Wells Fargo & Co. is planning to join the $4.5 trillion exchange-traded fund industry, one of the last major asset managers to enter the fray.
The fourth-biggest U.S. bank by assets is seeking to register the Wells Fargo Exchange-Traded Funds Trust with the U.S. Securities and Exchange Commission, according to a Monday filing. If approved, Wells would be able to issues its own ETFs, although they haven’t registered any individual funds yet.