Little-Known Quantum ETF Rakes In Cash After Computing Breakthrough
-- For most of its six-year life, the Defiance Quantum ETF behaved just like any other high-tech long shot: Unexceptional returns and meager investor interest kept it stuck among the investing also-rans that dot the exchange-traded fund landscape.All that changed in the span of a nanosecond after Google-parent Alphabet Inc. announced a big breakthrough in quantum computing earlier this month. Now, flows for the fund, which trades under the ticker QTUM, are surging like never before.The inflows started to pick up earlier this month following news that Alphabet had achieved a major accomplishment in quantum computing through the use of its Willow quantum chip. The company said that its quantum computer needs only five minutes to solve a problem that would take a supercomputer around 10 septillion years to do. Shares of Alphabet rose in the wake of the announcement, and other stocks linked to quantum computing have also extended advances in recent days.
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