Blue Wave Unleashes $1 Billion of Demand for Clean-Energy ETFs
- TAN, ICLN see record cash, call volume after Democratic sweep
- Appetite for clean ETFs could dent demand for ESG funds: BI
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A Democratic sweep of both houses of the U.S. Congress stoked a record flood of cash into renewable-energy exchange-traded funds this week.
The $6.2 billion iShares Global Clean Energy ETF (ticker ICLN) lured a record $691 million of inflows so far this week, according to data compiled by Bloomberg. Meanwhile, the $4.6 billion Invesco Solar ETF (ticker TAN) is on track to take in nearly $370 million this week -- another all-time haul.