The Roundhill Sports Betting and iGaming ETF (“BETZ ETF”) aims to provide retail and institutional investors with exposure to sports betting and iGaming industry risk by providing investment results that are closely related to fees and expenses. iGaming Index (“BETZ Index”).
The Roundhill sports betting and iGaming index is the world’s first index to track the performance of the sports betting and iGaming industry. The index consists of a weighted portfolio of global listed companies actively involved in sports betting and iGaming.
This classification includes (i) companies operating personal and/or online sportsbooks (ii) companies operating online/internet gambling platforms, and (iii) providing infrastructure or technology to such companies in (i) or (ii) company of.
Investors have invested money in a new exchange-traded fund that tracks the sports betting and online gambling industry, even if professional games are still in progress.
Industry observers say this signifies confidence in the industry’s long-term prospects and also reminds people that during the global coronavirus blockade, many people were engaged in alternative activities in the sports and gaming sectors in the financial markets.
According to Will Hershey, CEO of Roundhill, as of June 4, the Roundhill Sports Betting & iGaming ETF BETZ fund rose 1.28% and has attracted $68 million in investor investment as of Monday.
Dave Nadig, a senior industry veteran of the ETF database, said it was “a very confident vote for a fund that was only established in a few days.” “I’m a fan of this fund. If you think online sports betting is the next big issue, then this funding will cover everything from back-end infrastructure to front-end retail business.”
Although the fund’s start-up was somewhat ironic during the interruption of the COVID-19 sports event, Hershey still insisted that the start-up was accidental.
Even though online gambling and fantasy sports company DraftKings Inc. DKNG (-2.39%) has completed a complex initial release, Roundhill is still developing the idea for several months.
Since trading began in mid-April, DraftKings’ share price has more than doubled. Hershey told MarketWatch that if you are an investor who believes in the paper but missed DraftKings, this performance “explains both the needs of the ETF and the use cases.”
The company accounts for more than 6% of BETZ’s portfolio. Another recent IPO, GAN GAN + 0.10%, provides the back-end technology mentioned by Nadig, including GameSTACK software, which accounts for more than 5%.
BETZ not only has a lot of capital inflows. Its trading volume is so large (According to Nadig, it has traded 2 million shares per day on average since its inception), ranking among the top 20% of all ETFs, making it equal to funds that manage hundreds of billions of dollars of funds. It has been around for decades.
Part of the reason why the fund has such a large position is that the field is relatively new, but Hershey said that it is also intentional: “Our goal is to provide the purest exposure while considering liquidity and market value. mouth.”