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Trillions

Bloomberg
Etfs
Bitcoin
Vanguard
Exchange-Traded Funds
Blackrock
Bloomberg
China
SEC
Invesco QQQ
Bitcoin Etfs
Bitcoin ETF
Cryptocurrency
Nvidia
Europe
Investment Strategies
Japan
Private Credit
Inflation
ETF Awards
ETF

Money goes where it’s treated best. That simple truth is a big reason why more and more money (trillions, in fact) flows into a powerful, low-cost tool that’s quietly transformed investing. Exchange-traded funds let you invest in everything from the stock market to gold like never before. This biweekly podcast will demystify them—and hopefully delight you in the process.

PublishesWeeklyEpisodes267Founded9 years ago
Number of ListenersCategories
InvestingBusinessNewsNews Commentary

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Latest Episodes

The ETF industry has packaged everything from stocks and bonds to Bitcoin and leveraged bets on individual companies. So why not your favorite sports team? New filings from Volatility Shares would create ETFs tied to the performance of each NHL franc... more

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The ETF industry had a record year in 2025. Somehow, 2026 is shaping up to be even bigger. More than $1 trillion has already poured into ETFs, launches continue at a breakneck pace and trading volume is on track for another record — putting the indus... more

YouTube

ETFs are already famous for their tax efficiency, but a growing corner of the market is pushing those benefits further than ever. What if you could sell a massive stock position without paying taxes on it - at least not yet? Welcome the 351 conversi... more

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The ETF market is on pace for a record year - not just in the number of launches but also for the range of issuers entering the market. With competition intensifying, there’s no shortage of noteworthy funds to keep an eye on.

In this week’s ETFs t... more

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Recent Guests

Zachary Miner
Bloomberg reporter on the story
Bloomberg
Episode: 351 Conversions: Smart Tax Alpha Strategy or Loophole in the Code?
Nadine Chakar
Managing Director and Global Head of Digital Assets at DTCC
DTCC
Episode: Tokenization, Digital Twins and the Future of ETFs
Brian Daly
Director of the Division of Investment Management at the SEC
U.S. Securities and Exchange Commission
Episode: Will the SEC Approve Prediction Market ETFs This Year?
Manuela Sperandeo
Co-head of European iShares at BlackRock
BlackRock
Episode: Clash of the Titans: BlackRock and Vanguard LIVE
Jonathan Cleborne
Managing Director for Vanguard Europe
Vanguard Europe
Episode: Clash of the Titans: BlackRock and Vanguard LIVE
Andrey Yapp
ETF associate at Bloomberg Intelligence
Bloomberg Intelligence
Episode: ETF of the Moment: Software Isn't Dead, Yet
Sharoon Francis
Research Associate at Bloomberg Intelligence
Bloomberg Intelligence
Episode: The Biggest IPO Ever Meets Passive Investing
Ben Carlson
Director of Institutional Asset Management at Ritholtz Wealth Management
Ritholtz Wealth Management
Episode: The Big Long: Risk and Reward With Ben Carlson
Andre Yapp
Bloomberg Intelligence ETF Research Associate
Bloomberg Intelligence
Episode: ETF of the Moment: A Budding Comeback for Cannabis

Hosts

Joel Weber
Host of Trillions; Bloomberg contributor; Bloomberg
Eric Balchunas
Co-host of Trillions; ETF analyst; Bloomberg

Reviews

4.6 out of 5 stars from 380 ratings
  • Thoroughly explores ETF’s

    Trillions does a great job covering the world of ETF’s. This is not a podcast that just glazes over the basics. Love it.

    Apple Podcasts
    5
    GUCCI POODLE
    United States9 months ago
  • Dividends over day jobs

    Fun conversation. I wanted to hear about the guy who saw his traditional IRA get smoked by tariff announcements, then watch it bounce back when the president decided to pause the strategy. But then announced some tariff target, crushing guy’s position, but then reversing that, also.

    Is that the sort of future you prefer as long term investor? What wrong with taking big return on a daily basis, independent of the daily whim of political actors?

    Apple Podcasts
    5
    Mike the bookkeeper
    United Statesa year ago
  • Too many commercials!

    Love the pod but there are way too many commercials

    Apple Podcasts
    4
    Sassafrasssser
    United Statesa year ago
  • A very enjoyable podcast

    Love the hosts for their sharp comments, fast flow of conversation, great insight and useful information, all done in an enjoyable way. Please continue the good work.

    Hoping to listen to them as long as they continue with this podcast.

    Apple Podcasts
    5
    Smiley Med Man
    United States2 years ago
  • Started Good, but Should Have Ended

    I’ve listened to this podcast from its beginnings. The beginning was fantastic: it explained ETF structure, tax efficiency, broad indexing, Bogle, etc. Over time, it’s run out of general topics and has gone into increasingly niche areas. Some of those have been interesting discussions (long/short Jim C. was fun), but it’s long ceased to be generally useful.

    The hosts’ recent crypto obsession has me noping-out and finally unsubscribing. There are much better financial podcast out there (some ev... more

    Apple Podcasts
    2
    PNW_Matt
    United States2 years ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Listeners appreciate the guest diversity and data-driven insights
Shows deep ETF expertise with accessible explanations of complex topics
Some criticism about promotional content and pacing at times

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Talking Points

Recent interactions between the hosts and their guests.

How Leveraged ETFs Became Wall Street's New Obsession
Q: What signs indicate what the future holds for levered ETFs?
Expect more 2X thematic launches and possibly some guardrails or labeling changes as the space grows, driven by ongoing demand from traders and the cheese-past-the-millow risk landscape, with issuers racing to capitalize on new themes.
How Leveraged ETFs Became Wall Street's New Obsession
Q: Are there red flags or a traffic-light system that should guide investors away from certain products?
Yes. Generally, anything at 2X or higher can be considered a red light, particularly for single-stock ETFs, due to higher concentration risk and potential for rapid outflows during stress. Index-leveraged products tend to be more stable, but still require caution.
How Leveraged ETFs Became Wall Street's New Obsession
Q: James, how do these 2X and 3X levered ETFs actually work under the hood?
They rely on swaps and multiple banks to replicate daily 2X or 3X returns, with some using options to achieve the leverage. This dynamic means daily returns can diverge significantly from long-term multiples, especially in choppy markets, so daily monitoring and understanding of compounding effects are crucial.
New ETFs to Watch: A Nasdaq 100 Challenger, the SK Hynix Smackdown and…a Multi-Token Wildcard?
Q: What's the big launch to watch in the Nasdaq 100 space?
Two new Nasdaq 100 ETFs from iShares and State Street are challenging Invesco's monopoly on the index, with lower fees and larger distribution potential that could siphon assets and attention away from the existing options.
Tokenization, Digital Twins and the Future of ETFs
Q: Will tokenized ETFs replace traditional ones or coexist?
They will coexist for a long time; old and new rails run in parallel as the market gradually adopts tokenization while ensuring custody, regulatory protections, and interoperability.

Audience Metrics

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1. Odd Lots
2. Masters in Business
3. Money Stuff: The Podcast
4. Animal Spirits Podcast
5. The Compound and Friends

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Trillions launched 9 years ago and published 267 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Trillions?

Recent guests on Trillions include:

1. Zachary Miner
2. Nadine Chakar
3. Brian Daly
4. Manuela Sperandeo
5. Jonathan Cleborne
6. Andrey Yapp
7. Sharoon Francis
8. Ben Carlson

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