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Roundhill’s WEEK ETF Quietly Pays Treasury Bill Investors Every Wednesday Like Clockwork

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moneyvests
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Roundhill’s WEEK ETF Quietly Pays Treasury Bill Investors Every Wednesday Like Clockwork


Quick Read

  • WEEK automates the Treasury ladder process: Instead of manually buying and rolling Treasury bills through TreasuryDirect, the ETF handles reinvestment and distributes income weekly.

  • The yield comes from short-term Treasury bills: WEEK currently offers a 3.46% 30-day SEC yield while maintaining relatively stable share prices around the $100 level.

  • Tax efficiency is a major advantage: Because the fund primarily holds Treasury bills, much of its income is exempt from state and local income taxes, improving after-tax returns for many investors.

  • Don’t wait: the analyst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now.

One of the classic ways to earn income from Treasury bills is through a Treasury ladder. You take a lump sum and divide it across multiple maturities, such as three-month, six-month, nine-month, and 12-month Treasury bills. As each rung of the ladder matures, you can either withdraw the proceeds or reinvest them into a new Treasury bill, maintaining the ladder indefinitely.

christianthiel.net / Shutterstock.com

The problem is that this requires investors to actually manage the process themselves. That means dealing with TreasuryDirect, which has developed a reputation among users for its dated interface, clunky navigation, and occasional technical headaches. Treasury bills also do not pay income in the traditional sense. Instead, they are purchased at a discount to face value and mature at par, with the difference representing your return. If you want ongoing cash flow, you need to continually manage and roll those maturities.

For investors who want the safety and principal protection associated with Treasury bills while receiving regular income, one option is the Roundhill Weekly T-Bill ETF (WEEK). It is the first ETF designed to target a stable net asset value (NAV) week over week while distributing income on a weekly schedule.

What Is WEEK?

WEEK is an actively managed portfolio of U.S. Treasury bills with maturities ranging from zero to three months. The holdings are generally spread equally across multiple short-term Treasury securities, with Roundhill handling the rolling process as individual securities mature.

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Unlike a money market fund, WEEK does not maintain a fixed $1 NAV. However, its share price tends to remain very stable from week to week. In practice, the ETF generally hovers around the $100 level. As interest income accrues throughout the week, the NAV gradually rises in a saw-tooth pattern.

On the ex-distribution date, typically Tuesday, the NAV falls by approximately the amount of the upcoming distribution, with investors receiving the cash payment on Wednesday. Distribution amounts are generally declared on Monday. That weekly schedule is one of the ETF’s defining characteristics.

What I Like About WEEK

As of June 2026, WEEK offers a 3.46% 30-day SEC yield after deducting its 0.19% expense ratio. That places it roughly in line with prevailing short-term interest rates, with the federal funds target range currently sitting between 3.50% and 3.75% after yet another pause from the FOMC.

Where the ETF really stands out is tax efficiency. Because WEEK primarily holds Treasury bills, much of its income benefits from the same tax treatment as direct Treasury ownership. Treasury interest is exempt from state and local income taxes, which can be a meaningful advantage for investors living in high-tax states.

That is one reason I generally prefer Treasury-based income strategies over comparable corporate bond ETFs. Yes, you may sacrifice some headline yield. However, after accounting for taxes, the difference often narrows considerably. Combined with the higher credit quality of Treasury securities, WEEK is decent for investors looking to park cash while still earning income.

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You can ignore Trump’s threats to leave NATO: Pimco says they’re a ‘paper tiger’

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moneyvests
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You can ignore Trump’s threats to leave NATO: Pimco says they’re a 'paper tiger'


On Monday, the Department of Defense told senators it needed an additional $80 billion to cover the cost of the U.S. war against Iran, just weeks after warning that the military could potentially run out of money should Congress not pass a new spending bill, Fortune’s Jacqueline Munis reports. But what is the total bill so far?

Experts differ. On May 12, Acting Pentagon Comptroller Jules Hurst III told the House Armed Services Committee that the war had cost $29 billion. Despite the six weeks that have passed, the Pentagon referred Fortune back to Hurst’s testimony when asked for an updated estimate this week. 

That’s probably an underestimation. According to Moody’s Analytics, the war has cost U.S. taxpayers and consumers at least $132 billion so far.

Given that the early days of the conflict cost $1 billion per day, Linda Bilmes, a Harvard Kennedy School senior public policy lecturer and a federal budget expert, said spending is more likely to total the $200 billion in additional funds the Pentagon requested back in March.

Pimco says Trump’s threats to leave NATO are a “paper tiger”

NATO Secretary-General Mark Rutte will be in Washington this week, risking the wrath of President Trump, who hates the transatlantic military alliance because it “wasn’t there when we needed them” for Iran. Trump has more than once floated the idea of bailing on NATO. Don’t expect it to happen, Pimco Head of Public Policy Libby Cantrill told clients recently.

What most people forget is that in 2024 Congress passed a law banning the president from unilaterally quitting NATO without a 60-vote Senate majority or a change in the law. (The person least likely to say this out loud is Secretary of State Marco Rubio, who led the effort in the Senate at the time.) NATO remains popular in Congress. Cantrill said in an email: “While President Trump likes to refer to NATO as a ‘paper tiger,’ arguably, the paper tiger is the threat that the U.S. will withdraw from NATO.”

THE MARKETS

Mixed signals: U.S. futures inch up after yesterday’s selloff

  • S&P 500 futures were up 0.14% this morning. The index lost 1.44% yesterday. 
  • In Europe, the Stoxx 600 was flat in early trading, as was the U.K.’s FTSE 100.
  • Asia: South Korea’s KOSPI was up 3.26%. Japan’s Nikkei 225 was down 0.88%. India’s Nifty 50 was up 0.99%. China’s CSI 300 was up 0.48%. 
  • Brent crude fell to $75 per barrel this morning, from $77 the day before.
  • Bitcoin was at $62K.

The curse of Elon hits competing rocket companies

SpaceX seems to be hurting the stocks of other companies in the space market, according to Bespoke Investment Group. As of Tuesday, the asset manager calculated that before the SpaceX IPO, the shares of 28 rocket and satellite companies were up 99%, on average, year-to-date. But as soon as Elon Musk’s company went public, their stocks declined in the following days by an average of 17%. On the same day, SpaceX was still up 16% from its launch. Here’s the data:

AI is killing Bitcoin in 2026, Deutsche Bank warns

Bitcoin was priced at $62.6K this morning, less than half its recent all-time high. Deutsche Bank’s Marion Laboure has an interesting theory about why the OG crypto token can’t regain its traction. The coin faces a number of problems, she said in a note to clients, among them Michael Saylor’s Bitcoin treasury company Strategy selling some of its holdings after Saylor promised he’d never sell, souring the environment. (Strategy stock is down 32% year-to-date.) On top of that, Bitcoin ETFs have net sold about $6 billion over the last six weeks. Bitcoin adoption in the U.S. remains at only 10% of the populace and hasn’t moved upward for years.

But the AI data center buildout is directly hurting demand as “risk capital” moves away from crypto and into AI, Laboure says. “Bitcoin’s energy and site infrastructure maps directly onto AI data centre requirements, making conversion materially cheaper than greenfield construction. Former miner Bitdeer has sold its entire Bitcoin treasury to fund a pivot to AI infrastructure, converting sites across Norway, Ohio, and Washington State toward 200+ MW of AI compute capacity by end-2026. The shift is structural rather than cyclical: miners with energy assets are becoming AI infrastructure landlords, monetising the same power portfolios at higher and more stable margins than volatile block rewards.” 

MORE FROM FORTUNE

Now she’s worth $200 million. But Sarah Jessica Parker says being ‘one of eight kids that struggled financially’ growing up created her work ethic – Orianna Rosa Royle

Tesla cofounder JB Straubel’s first pitch to Elon Musk failed. Then he turned his ‘hobby’ into a $1.3 trillion success – Rachel Ventresca

Quantum computing stocks surge after Trump signed executive orders backing the sector – Marco Quiroz-Gutierrez

MSCI delays Indonesia’s market status review until November – Bloomberg

The climate policy triangle: why leaders can no longer choose between growth, security and sustainability – Sebastian Buckup

The man who invented the Fed’s magic trick just died. His successor is about to try it again – Eva Roytburg

CHART OF THE DAY

Wall Street’s spookiest chart just got spookier: It’s 1978 all over again

When the war with Iran started and oil went over $100 per barrel, Deutsche Bank published an “eerie” chart showing that the U.S. today appears to be following almost exactly the rates in the 1970s, which ended with runaway inflation at 15% and the grueling recession of the early 1980s that followed.

Apollo Global Management’s Torsten Slok has updated the chart. The news isn’t good. We’re right on track as if it were 1978! (Crucially, this chart only works if you ignore/manipulate the vertical axes!)

NUMBER OF THE DAY

$26 billion

The amount of tariffs illegally collected by the Trump Administration that have now been given back to the U.S. companies that paid them, as estimated by Ohsung Kwon and his colleagues at Wells Fargo. The total collected was $166 billion, or half a percentage point of U.S. GDP. At this pace, refunds should continue through 2027.

THE FRONT PAGES TODAY

Is this teenage girl North Korea’s next dictator? – FT

Ukraine is raising the cost of war for Russia — and testing Putin’s resolve – CNBC

U.S. loosens Iran’s travel restrictions for next World Cup match – Axios

Will Anyone Buy This Cheap EV Truck With Hand-Crank Windows and No Radio? – WSJ

China Makes New US Warship Target for Missile Tests, Images Show – Bloomberg

Woman who emptied Knicks trashcan on street— then stole it — fired from J.P. Morgan Chase, was DEI exec – NY Post

ONE MORE THING

Goldman, J.P. Morgan staff allowed to WFH on World Cup days

Goldman Sachs and J.P. Morgan Chase are temporarily allowing employees to work from home on World Cup game days, Fortune’s Orianna Rosa Royle says. They’re not being given a break from the office to watch the matches, however. Rather, in New York and New Jersey, there will be significant changes to transit services and severe street closures to accommodate the massive crowds. World Cup ticket holders will be prioritized—so workers who commute on impacted routes without a match ticket won’t be able to catch their train into the office or home.



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Catholic groups join law enforcement in opposing THIS CLARITY Act provision

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moneyvests
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Catholic groups join law enforcement in opposing THIS CLARITY Act provision


The CLARITY Act, the U.S. crypto market structure bill, is drawing mounting scrutiny over its proposed legal exemptions for non‑custodial DeFi platforms. 

On the 24th of June, four law enforcement groups sent a letter to the White House and Department of Justice (DoJ) to express their concerns regarding the BRCA (Blockchain Regulatory Certainty Act) provisions. 

The groups include the National District Attorneys Associations (NDAA), the National Association of Assistant United States Attorneys (NAAUSA), the International Association of Chiefs of Police, and the National Sheriffs’ Association. These groups cover over 70K professionals. 

For those unfamiliar, Section 604 of the Blockchain Regulatory Certainty Act (BRCA) is designed to protect developers. It exempts them from needing a money transmitter license if the platform is fully non‑custodial, meaning developers do not control user funds. 

If passed in its current form, the bill would also shield developers from liability for fraud or money laundering committed by third parties on these platforms. Instead, regulators should go after the third-party perpetrators committing the crime, not developers, like in the Tornado Cash case. 

For the four groups, however, the exemptions could ‘impede’ investigative efforts in digital assets. 

As currently drafted, Section 604 risks creating gaps in oversight and accountability that could impede those efforts.

Clarity Act
Source: X

The group added that they are not against developers, but their concern is the ‘broad exemptions’ that could shield some wrongdoers. Worth noting that these groups have been involved in discussions with the White House over the same issue over the past few weeks. 

Catholic Church opposes CLARITY Act

Interestingly, beyond law enforcement, opposition has also come from about 100 coalitions of Catholic organisations and leaders.

They raised their concerns over Section 604 of the bill. According to the religious groups, the Section 604 provisions could weaken monitoring of human trafficking. 

Section 604 could create broad carveouts and regulatory ambiguities that make it more difficult to responsibly monitor illicit financial activity tied to trafficking, organized crime, child exploitation, sanction evasion, and other forms of abuse.

In other words, Section 604 is becoming a major sticking issue on the bill. Alongside ethics and stablecoin yield, these issues have delayed the introduction of the bill to a broader Senate floor vote. 

In other policy developments, Solana Policy Institute’s Kristin Smith has opposed the amendment by Rep. Steven Horsford (D-NV) on recently proposed crypto tax rules. The amendment seeks to limit tax deferrals on staking and mining to a maximum of 5 years. 

For Smith, the proposed amendment misses the mark. 

CLARITY ActCLARITY Act
Source: X

Overall, the industry scored on stablecoin with the GENIUS Act passage. But the broader crypto market structure and tax clarity remain uncertain. 

Final Summary

  • A new set of law enforcement and Catholic Church groups raised concerns about the CLARITY Act’s ‘broad DeFi exemptions.’
  • Crypto tax clarity push could hit a hiccup after a recent amendment to cap staking and mining tax deferral to 5 years. 



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Michael Saylor’s MSTR should pause its bitcoin (BTC) buying and rebuild cash

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moneyvests
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Michael Saylor's MSTR should pause its bitcoin (BTC) buying and rebuild cash


The squeeze comes from both directions. As Strategy issued more STRC to fund bitcoin purchases, its annual dividend obligations ballooned from about $300 million at the start of 2026 to $1.2 billion now, a near fourfold jump in under six months.

CryptoQuant noted the reserve needed to reach about $2.8 billion, or 24 months of coverage, for STRC to recover. As such, Strategy reported a $1.1 billion reserve in mid-June.

So its bitcoin offers less of a backstop than its size suggests.

“The company sits on a $10.6 billion unrealized loss, with all Bitcoin purchased in 2024, 2025, and 2026 underwater,” CryptoQuant said. “Any forced BTC sale at current prices would crystallize large losses and destroy shareholder value.”

A forced sale is unlikely soon, though. Strategy is not required to sell bitcoin to defend STRC and can instead raise the dividend or sell new shares to signal it can keep paying, tools it is already using.

CryptoQuant’s prescription is for Strategy to pause its bitcoin buying and rebuild the reserve first, then adopt a systematic approach to timing purchases rather than buying whenever it raises capital.

Strategy cannot simply switch the payments off to save cash. STRC’s dividends are cumulative, meaning any skipped payment still has to be made up later, and CryptoQuant said the company is unlikely to suspend them anyway because doing so would damage its credibility with the preferred holders it needs.

The report is a sharper read than the one Benchmark-StoneX offered on Tuesday.



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Google’s $75M stake in A24 follows a 50% funding increase in AI content creation startups

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moneyvests
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Google's $75M stake in A24 follows a 50% funding increase in AI content creation startups


A24, the independent entertainment studio powerhouse behind the recent hit “Backrooms,” is partnering with Google’s DeepMind division to develop AI-powered tech for filmmakers. The deal, according to The Wall Street Journal, also includes a $75 million investment from Google in A24.

Unlike recent tie-ups between Silicon Valley and Hollywood, which have seen studios invest in tech companies, this time it’s a tech company paying for a stake in a studio. It also comes on the heels of a huge spike in VC investment in AI content creation and prosumer applications over the past three years.

Deal value for content creation and prosumer startups has surpassed last year’s total, according to PitchBook data, coming in at $5.4 billion raised from 48 deals, a 50% deal value increase year-over-year to date. In 2025, $3.6 billion was netted from 76 deals.

“Consistent improvements in diffusion model quality have created professional-grade outputs,” said Eric Bellomo, senior emerging technology analyst at PitchBook, whose research includes consumer technologies. “A wave of startups has created momentum to sustain deal values in the years to follow.”

This wave includes companies like Odyssey, a developer of so-called world models that generate real-world simulations for uses like film and gaming, which disclosed on June 17 that it had raised a $310 million Series B at a $1.45 billion valuation. Also this month, AI music generation startup Suno announced a $400 million Series D at a $5.4 billion valuation.

A24 was founded in 2012 and quickly rose to prominence in Hollywood after its first original production, “Moonlight,” won the Academy Award for best picture in 2017. The studio has raised private capital from Stripes and Thrive Capital (an OpenAI backer), which invested in a $250 million round in 2024 that valued the company at $3.5 billion.

More typical deals involve studios investing in tech innovators. For example, Lionsgate, the studio behind the popular action series “John Wick,” recently took an equity stake in the AI video generation startup Runway after announcing a partnership in 2024. Another example is Disney, which entered into a deal with OpenAI back in December 2025 to license its characters for the startup’s AI video app Sora and pledged to invest $1 billion into the ChatGPT-maker. After shuttering Sora in March, Disney reportedly exited its deal with OpenAI, according to The Hollywood Reporter.

Another exception to this trend is Sequoia’s 2025 investment in indie movie streaming service Mubi—the firm led the company’s $100 million round that valued it at $1 billion. Most recently, Mubi is reportedly considering acquiring the Luca Guadagnino-directed movie about OpenAI CEO Sam Altman after Amazon dropped it, according to The Hollywood Reporter.

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This article originally appeared on PitchBook News



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Bitcoin’s ‘OG’ investors have slowed selling in a bullish sign for the market

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moneyvests
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Bitcoin’s ‘OG’ investors have slowed selling in a bullish sign for the market

Analysts track this using a metric called spent transaction outputs (STXO), which, in simple terms, tracks the movement of BTC on the blockchain. An OG moving coins after holding them for half a decade is almost always a sign of impending liquidation or profit-taking.

During the peak of the bullish cycle, single-day sell-offs sometimes exceeded 142,000 BTC, sending shockwaves through the market.

But that’s not the case anymore.

The timing of this slowdown in OG selling is not a coincidence, according to analysts at CryptoQuant. Currently, bitcoin is trading around $63,000, which, as it turns out, could be the “break-even” point for the most expensive coins this group could have possibly purchased five years ago, analysts explained on X.

By looking to hold at these levels, the OGs are effectively removing a massive source of selling pressure that capped BTC’s gains above $100,000 last year.

In other words, sell-side pressures are weakening just as some contrary indicators warn of a bottom. Note that outflows from spot ETFs have also slowed over the past two weeks in a positive sign for the cryptocurrency.

As of this writing, bitcoin changed hands near $62,750, largely unchanged on a 24-hour basis.



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Dollar Gains on Euro Weakness and Higher T-note Yields

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moneyvests
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Dollar Gains on Euro Weakness and Higher T-note Yields


The dollar index (DXY00) on Monday rose by +0.17% and is just below last Friday’s 13-month high.  The dollar erased early losses on Monday and moved higher after the euro declined when ECB President Lagarde pushed back against any additional tightening of monetary policy by the ECB due to the US-Iran war.  The dollar also has carryover support from last Wednesday, when the FOMC projected higher interest rates later this year.  In addition, higher T-note yields on Monday have strengthened the dollar’s interest rate differentials and were supportive of the dollar.

The dollar initially moved lower on Monday on reduced safe-haven demand after Iran said there had been “major progress” in overnight discussions with the US over a peace deal. Also, Monday’s -2% fall in WTI crude oil prices is dovish for Fed policy and negative for the dollar.

More News from Barchart

Iran said there had been “major progress” in all-night discussions with the US over a peace deal following the interim agreement last week that led to a 60-day ceasefire extension and Iran opening the Strait of Hormuz.  Pakistan and Qatar said in a joint statement on Monday that there was “encouraging progress” in talks and that the US and Iran agreed to establish a “high-level committee” to oversee the talks, as well as working groups dealing with nuclear issues and sanctions on Iran.  There will also be a “de-confliction cell” to help ensure the cessation of military operations in Lebanon.

The swaps markets are discounting the odds at 39% for a +25 bp rate cut hike at the next FOMC meeting on July 28-29.

EUR/USD (^EURUSD) on Monday fell by -0.42% and is just above last Friday’s 3-month low.  The euro was under pressure on Monday after dovish comments from ECB President Lagarde reduced the chances of additional ECB rate hikes, as she said she sees no need for a more forceful ECB response to the US-Iran war.  Losses in the euro are limited after the Eurozone’s June consumer confidence index rose more than expected.

The Eurozone Jun consumer confidence index rose +1.3 to -17.7, stronger than expectations of -18.0.

ECB President Christine Lagarde said the ECB doesn’t need to react more forcefully to the Middle East conflict because inflation is set to return to target over the medium term.



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