Tidal, HANetf Team Up for U.S./Europe White Label Services

Tidal Financial Group, which manages $4.76 billion in 71 U.S. traded exchange-traded funds, has teamed up with  European issuer HANetf to promote each other’s white-label ETF services across Europe and the U.S.

Under the agreement, New York-based Tidal will promote HANetf’s white-label offering for UCITS ETFs, exchange-traded commodities and exchange-traded notes in Europe to its U.S. client base. In return, London-based HANetf will promote Tidal’s white-label service for issuing ’40-Act’ and ’33-Act’ ETFs in the U.S. to its European clients and network.

The partnership offers asset managers an integrated route to launch funds in white-label vehicles on both sides of the Atlantic, enabling them to capitalize on client needs, tax considerations and time zones in different jurisdictions.

The two white-label platforms boast a combined total of 163 exchange-traded product launches and cumulatively house more than $12 billion in assets under management (AUM).

“Clients will be able to either supplement their UCITS ETF offering with ’40-Act’ ETFs or if they have not entered the ETF market will be able to offer both wrappers to allow simultaneous launch in both of the world’s leading ETF markets in one fell swoop,” said Hector McNeil, co-founder and co-CEO of HANetf.

The partnership follows news the two firms considered expanding their white-label ETF offering to have a footprint in each other’s markets.

Tidal, HANetf ETF Partnership

Mike Venuto, co-founder and CIO of Tidal, said his firm has previously acted as a sub-adviser to HANetf clients.

"With this partnership, we are now able to connect our U.S. based customers with our counterparts in Europe,” he said.

McNeil told ETF Stream in July 2021 an ETF issuer needs both UCITS and ’40-Act’ ETFs to provide full coverage to a global client base.

Telmo Rueda, director of EMEA at Tidal, told ETF Stream last November his team was looking at Europe “with interest” and was “not ruling out white-labelling in Europe”.