Challenging the Relevance of Depositary Receipts in the U.S. Markets

Depositary receipts gained immense popularity as they offered a simplified means for investors to gain exposure to international markets. ADRs, in particular, became a staple in U.S. portfolios, allowing investors to diversify globally with the convenience of trading on U.S. exchanges. However, recent trends indicate a shift, with more foreign private issuers opting to list…