First Trust and Global X Launch Space Economy ETFs
First Trust and Global X ETFs introduced two UCITS ETFs focused on the space economy on July 30, 2023. This move follows the recent trend in ETF launches by several major providers, anticipating growth in an industry projected to reach $1.8 trillion by 2035.
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On July 30, 2023, First Trust and Global X ETFs each launched a new UCITS ETF targeting the space economy. The First Trust Bloomberg Space Economy UCITS ETF and the Global X Space Tech UCITS ETF join existing offerings from Ark Invest, BlackRock, WisdomTree, and VanEck, with VanEck's fund attracting over $1.3 billion this year.
Both new ETFs aim to capitalize on the global space economy, currently valued at over $600 billion, driven by reduced launch costs and increasing demand for satellite services. The Global X ETF focuses on companies deriving at least 50% of their revenue from space-related activities, while First Trust's ETF selects the top 50 innovative firms in the sector. With management fees set at 0.65% and 0.50% respectively, these funds are expected to provide diversified exposure to a growing industry.
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