Proshares launches ION, the first ETF to invest only in companies mining battery metals.
ProShares, a premier provider of ETFs, launched ProShares S&P Global Core Battery Metals ETF (ION), the first ETF to invest only in companies mining battery metals. These companies supply the raw metals needed to power the batteries used in the growing number of electric vehicles, laptops, smartphones and energy storage devices.
Michael L. Sapir, ProShares founder and CEO, said:
An energy revolution is underway that is transforming the way we power our lives.
“With ION, there is now an ETF that offers investors an effective way to access companies meeting the soaring demand for batteries and the metals needed to make them.”
Global demand for batteries is expected to grow by 25% annually until at least 2030, according to academic research.1 ION is designed to give investors access to global companies mining lithium, nickel or cobalt—raw metals that are seeing a surge in demand due to the increase in battery production.
ION tracks the S&P Global Core Battery Metals Index—which is currently made up of 41 companies in more than 15 countries, including Australia, Indonesia, South Africa and China. Many of these companies can be difficult for U.S. retail investors to conveniently access on their own.
ION joins the ProShares thematic ETF lineup, complementing a group of funds that feature the application of technology and innovation, such as the S&P Kensho Cleantech ETF (CTEX), the DJ Brookfield Global Infrastructure ETF (TOLZ), the ProShares Online Retail ETF (ONLN) and the ProShares Metaverse ETF (VERS). The firm also launched the ProShares Bitcoin Strategy ETF (BITO) in 2021, which is the world’s largest cryptocurrency ETF.
About ProShares
ProShares has been at the forefront of the ETF revolution since 2006. ProShares now offers one of the largest lineups of ETFs, with nearly $60 billion in assets.
The company is a leader in strategies such as dividend growth, rising rates, thematics, crypto, and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.
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ProShares Launches ION, The First ETF to Invest Only in Companies Mining Battery Metals, BETHESDA, Md., December 1, 2022
