Barclays Suspends Sales For 30 iPath ETNs

The move comes weeks after the bank halted ‘VXX’ and ‘OIL.’

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Reviewed by: Dan Mika
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Edited by: Dan Mika

Barclays is halting sales of 30 iPath exchange-traded notes, nearly a month after an error forced the bank to halt redemptions of its oil and VIX futures notes. 

The sales halt is effective as of trading Thursday and affects nearly $2.8 billion worth of assets between 30 notes. 

In a statement, the bank said it is amending financial statements in its calendar year 2021 annual report regarding internal controls. Since its ETN prospectuses reference that document, Barclays said it cannot continue to sell those securities until it amends the note registration and registration shelf statements. 

A Barclays spokesperson declined to comment on when the bank expects to make amendments and restart sales. 

Barclays is restating parts of its annual report in part due to its mid-March suspension of the iPath Pure Beta Crude Oil ETN (OIL) and the iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX). The bank said it had issued roughly $15.2 billion more of the notes than the $20.8 billion maximum in the registration statements for approximately a year due to an administrative error. 

The bank took a $591 million charge for the quarter in connection with the error. 

 

Fund Ticker AUM
iPath Bloomberg Commodity Index Total Return ETNDJP $1,194,585,049.59
iPath Shiller CAPE ETNCAPD $457,424,822.40
Barclays ETN+ Select MLP ETNATMP $213,942,212.11
iPath Series B Bloomberg Copper Subindex Total Return ETNJJC $98,288,366.37
iPath Series B Carbon ETNGRN $88,347,169.66
iPath Series B Bloomberg Coffee Subindex Total Return ETNJO $75,807,641.44
iPath Series B Bloomberg Grains Subindex Total Return ETNJJG $64,849,739.24
iPath Series B S&P 500 VIX Mid-Term Futures ETNVXZ $63,281,280.77
iPath Series B Bloomberg Nickel Subindex Total Return ETNJJN $60,779,356.11
iPath Pure Beta Broad Commodity ETNBCM $57,143,539.08
iPath S&P GSCI Total Return Index ETNGSP $44,104,934.22
Pacer iPath Gold ETNGBUG $41,441,725.62
iPath Series B Bloomberg Cotton Subindex Total Return ETNBAL $40,265,894.73
iPath Series B Bloomberg Tin Subindex Total Return ETNJJT $35,038,091.22
iPath Series B Bloomberg Sugar Subindex Total Return ETNSGG $32,625,873.24
iPath Series B Bloomberg Agriculture Subindex Total Return ETNJJA $29,226,073.78
iPath Series B Bloomberg Industrial Metals Subindex Total Return ETNJJM $28,130,122.59
iPath Bloomberg Cocoa Subindex Total Return ETNNIB $25,778,534.62
iPath Series B Bloomberg Aluminum Subindex Total Return ETNJJU $24,018,337.23
Pacer iPath Gold Trendpilot ETNPBUG $23,917,750.60
iPath Series B Bloomberg Livestock Subindex Total Return ETNCOW $22,193,374.43
iPath Series B Bloomberg Softs Subindex Total Return ETNJJS $20,239,704.20
iPath Silver Exchange-Traded NotesSBUG $13,759,324.25
iPath S&P MLP ETNIMLP $12,896,395.04
iPath Series B Bloomberg Energy Subindex Total Return ETNJJE $7,768,495.76
iPath Series B Bloomberg Precious Metals Subindex Total Return ETNJJP $6,965,603.44
iPath Series B Bloomberg Platinum Subindex Total Return ETNPGM $6,262,749.66
Barclays Women in Leadership ETNWIL $3,791,149.71
Barclays Return On Disability ETNRODI $2,560,898.40
iPath Bloomberg Lead Subindex Total Return ETNLD $2,507,568.59

 

Contact Dan Mika at [email protected], and follow him on Twitter 

Dan Mika is a reporter for etf.com. He has previously covered business for the Ames Tribune and Cedar Rapids Gazette in Iowa, and BizWest Media in Fort Collins, Colorado. Dan holds a bachelor's degree in journalism from Truman State University.