Traders work on the floor of the New York Stock Exchange.
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The Securities and Exchange Commission is moving closer to approve a new flavor of exchange-traded funds that allow stock pickers to keep their holdings secret.
Asset managers T. Rowe Price, Natixis, Fidelity and Blue Tractor have won the preliminary regulatory approval to launch non-transparent ETFs that don’t require daily disclosure of their positions, according to regulatory filings on Thursday.
“We are certainly confident we will see products in 2020,” Todd Rosenbluth, head of ETF & mutual fund research at CFRA, told CNBC. “There will be appetite for them as we assume they are coming in…