Roundhill Investments launches sports betting exchange fund
New fund goes live on New York Stock Exchange with holdings including DraftKings and Penn National Gaming
Roundhill Investments has launched a sports betting and egaming exchange-traded fund (ETF) on the New York Stock Exchange (NYSE).
The Roundhill Sports Betting & iGaming ETF, which will be known as BETZ on the NYSE, is the first ETF globally designed to track sports betting and the online casino industry.
BETZ’s holdings include DraftKings (7.02%), Flutter Entertainment (6.53%), GAN (5.79%) and Penn National Gaming (4.16%). BETZ’s net asset value (NAV) stands at $15.41 as of 3 June.
According to the Roundhill website, BETZ’s ETF is designed to offer retail and institutional investors exposure to sports betting and igaming industries by providing investment results that closely correspond, before fees and expenses, to the performance of the BETZ Index.
Roundhill noted that the improvements and developments regarding regulation in sports betting made BETZ an appealing proposition.
The Roundhill website states: “Roundhill believes that an improving regulatory environment results in a compelling investment thesis for sports betting and igaming companies.”