
Roundhill Financial Inc. has filed for a new ETF, the Roundhill USA Government Portfolio ETF (USAG), designed to replicate the US government's capital allocation strategy. The fund will focus on industries crucial to national security and reducing dependence on China. It aims to mirror government stakes in companies like Trilogy Metals Inc. (10%), MP Materials Corp. ($400 million position), and Intel Corp. (10%). The ETF is currently awaiting SEC approval, which is delayed due to the government shutdown. Market experts view this as an attempt to monetize the administration's activist approach to certain industries, though potential limitations include the timing of government investment disclosures.