Product & Service Launches

MetLife Introduces Flexible Annuity Option to Guaranteed Income Offering

MetLife Inc. added a three-year cancellation option to its immediate income annuity, the MetLife Guaranteed Income Program.

Defined contribution plan participants converting retirement savings into guaranteed income can cancel their annuity within the first three years of receiving payments and receive a refund of premiums paid, minus benefits already received. The option has no cancellation or surrender fees.

Direxion Launches 4 Digital Asset, Precious Metal ETFs

Direxion launched four exchange-traded funds designed to provide investors with exposure to digital assets and precious metals: Direxion Daily Bitcoin Bull 2X ETF (ticker BTCU); Direxion Daily Ether Bull 2X ETF (EVMU); Direxion Daily Gold Bull 2X ETF (UGLD); and Direxion Daily Silver Bull 2X ETF (USLV).

“BTCU and EVMU give traders … daily leveraged pure swap spot exposure on digital assets driven by ETF flows, the halving cycle and regulatory momentum,” said Mo Sparks, Direxion’s chief product officer, in a statement. “UGLD and USLV do the same for precious metals, where central bank buying, real rate sensitivity, and the gold-silver ratio are generating directional opportunities.”