The Black Hole of Capital Gains: ETF Swap Funds

The Black Hole of Capital Gains: ETF Swap Funds

January 20, 2026 · 35 min · Episode 91

About this episode

This episode discusses the controversial tax strategy of ETF swap funds and its implications on capital gains tax.

Billions of dollars are flowing into a new tax strategy known as ETF swap funds, which critics say allow the ultra-wealthy to avoid capital gains tax, legally. The strategy has drawn attention from lawmakers and some academics for testing the limits of existing tax law. In this episode of Bite-Sized Business Law, host Amy Martella speaks with Jeffrey Colon, a professor at Fordham Law whose research focuses on tax and financial law. Jeff is the author of the forthcoming DePaul Law Review artic...

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