Michael J. Venuto is a recognized leader in the Exchange Traded Fund (ETF) industry, with more than twenty-five years of experience spanning portfolio management, product innovation, capital markets, and strategic leadership. Over the course of his career, he has helped shape the evolution of the ETF ecosystem through disciplined investment thinking, structural innovation, and a steadfast commitment to transparency and investor empowerment. In recent years, he has also been at the forefront of integrating digital assets and blockchain-related strategies into regulated investment vehicles.
He is the Co-Founder and Chief Investment Officer of Tidal Financial Group (formerly Toroso Investments), a registered investment advisory firm established in 2012. Under his leadership, Tidal has grown into one of the most influential platforms in the ETF industry, servicing more than 375 ETFs representing approximately $70 billion in assets as of January 2026. The firm employs approximately 190 professionals and operates as a leading ETF solutions and asset management platform.
At Tidal, Michael directs investment strategy, research, trading oversight, and product development initiatives. The firm’s investment philosophy centers on diversified asset allocation using exclusively Exchange Traded Products (ETPs), emphasizing liquidity, transparency, structural efficiency, and cost discipline. The original name “Toroso,” derived from the Spanish words for bull and bear, reflected the firm’s ability to navigate varying market regimes—an ethos that continues to inform its approach.
Michael serves as Co-Portfolio Manager on several of Tidal’s active ETFs, including ULTY, NANC, and BLOK—the first and largest publicly traded blockchain-focused ETF. Through BLOK and related digital asset strategies, he has played a meaningful role in bringing institutional-grade exposure to Bitcoin and blockchain infrastructure into the regulated ETF wrapper. His work focuses on custody structures, liquidity analysis, miner economics, token economics, capital markets infrastructure, and regulatory considerations surrounding digital assets.
He has been an early advocate for blockchain technology as a foundational innovation with long-term implications for financial market structure, settlement systems, and decentralized value transfer. Michael’s perspective on Bitcoin emphasizes its role as a scarce digital asset with macroeconomic relevance, particularly in the context of monetary policy expansion and sovereign balance sheet growth. He approaches digital assets within a disciplined portfolio construction framework grounded in risk management and utilization analysis.
Prior to co-founding Tidal, Michael served as Head of Investments at Global X Funds (2012–2015), where he specialized in portfolio optimization, security selection research, and ETF product strategy. Earlier in his career, he held senior leadership roles at Horizon Kinetics (2001–2012), including Senior Vice President and Director of the Private Client Group, leading business development, strategic investments, and portfolio management initiatives.
His career began at the New York Stock Exchange as a Runner and at First Union Securities as a Registered Representative, experiences that grounded him in market microstructure, liquidity dynamics, and investor behavior.
Michael was named one of ETF.com’s “ETF All-Stars” in 2014 and is a frequent commentator on ETFs, Bitcoin, blockchain innovation, and market structure in leading financial publications including Reuters and Barron’s. He is also the architect of the ETF Industry Index, a benchmark measuring publicly traded companies engaged in the ETF ecosystem.
He studied Philosophy and Religion at North Carolina State University, informing his principled and analytical approach to investment strategy. An avid chess player, he applies a long-horizon, probabilistic mindset to both portfolio construction and corporate strategy.
As he transitions toward increased board and advisory work, Michael remains committed to advancing responsible innovation across both traditional and digital asset markets, fostering financial and creative freedom for clients, teams, and stakeholders.
Character:
Michael consistently demonstrates integrity, humility, and a deep respect for the people and organizations he serves. He approaches challenges with discipline and clarity, valuing principled decision-making over shortcuts or expedience. His grounded, ethical leadership inspires trust and confidence among peers, clients, and team members alike.
Knowledge:
He brings a comprehensive command of ETF structure, investment strategy, financial regulation, and market behavior, built through decades of hands-on experience. His insights are informed by both academic curiosity and practical application across diverse market environments. He is sought after for his ability to translate complex financial concepts into accessible, meaningful guidance.
Strategic:
Michael excels at seeing around corners, anticipating trends, and crafting forward-looking frameworks that support long-term organizational success. His strategic thinking is shaped by years of building, scaling, and governing financial platforms from inception to maturity. He balances innovation with practicality, ensuring that ideas are not only imaginative but executable.
Communication:
He is an articulate and engaging communicator who brings clarity to complexity and fosters alignment across stakeholders. His public speaking, media presence, and boardroom communication reflect his ability to connect deeply with both experts and non-specialists. He values transparency and open dialogue, creating environments where collaboration thrives.
