Benzinga | Feb 8, 2021 09:07AM EST

Procure Space ETF Has Surpassed $100M In AUM

Pivotal milestone achieved as investor interest in the commercial space industry heats up

LEVITTOWN, PA / ACCESSWIRE / February 8, 2021 / The Procure Space ETF (NASDAQ:UFO), the inaugural fund launched by innovative exchange-traded product (ETP) issuer ProcureAM, has eclipsed $100 million in assets under management (AUM) less than two years after its debut.

Brought to market in April 2019, UFO is the world's first exchange-traded fund (ETF) to offer investors pure-play exposure to the multibillion-dollar global space economy. The fund tracks (before fees and expenses) the S-Network Space Index, which focuses on companies that are significantly involved in space-related activities.

"The commercial space industry has been thrust to the forefront of many investors' minds," said Andrew Chanin, co-founder and CEO of ProcureAM. "Competition among global superpowers for space dominance is escalating, while reliance on satellite infrastructure is increasing to meet data-transfer needs and industry participation is picking up amid lowered launch costs. Numerous trends signal a new age for space, and through UFO, investors can harness the sector's potential future growth."

UFO's underlying index was created by space industry expert Micah Walter-Range, former director of research and analysis for the Space Foundation, and is the first Certified Space Data Product(tm) to be acknowledged by the nonprofit organization. Approximately 80% of index constituents derive the majority of their revenues directly from involvement in the space industry, giving investors pure-play access to this expanding segment of the global economy.

Last year, UFO was named "ETF Innovation of the Year" at the Mutual Fund Industry & ETF Virtual Awards 2020, an award that recognizes the most successful ETF focused on a novel strategy or approach to the market.

For more information, please visit www.ProcureETFs.com or contact ProcureAM at info@ProcureAM.com.