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Debut of ‘UFO’ ETF Gives Investors Another Way to Invest in the Growing Space Industry

23 Apr 2019, 19:38 UTC
Debut of ‘UFO’ ETF Gives Investors Another Way to Invest in the Growing Space Industry
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The flood of young companies into the $400 billion space industry is sparking investor interest but there’s a common issue: A lack of public U.S. companies that generate the majority of revenue from space business.“The space industry is one that is still fairly new as far as corporations and the commercial viability of companies in space go,” Andrew Chanin, co-founder and CEO of ProcureAM, an exchange-traded product issuer.SpaceX, Blue Origin, Rocket Lab, Virgin Galactic and others are some of the too most talked about names among these space companies. But those companies are not available to the majority of investors.“Although there might be private companies that are working on new technologies, it’s really difficult to get access unless you’re an extremely affluent investor,” Chanin said.That’s why Chanin partnered with Space Investment Services, run by former Space Foundation director of research Micah Walter-Range, to develop the Procure Space ETF, ticker UFO. The exchange-traded fund of 30 companies gives everyday investors a way to own a stake in the growing space economy. UFO also focuses as much as possible on “pure play” space companies, Chanin said, as roughly 80% derive the majority of revenue from space businesses.“UFO provides, compared to other types ...

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