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Entry Of “UFO” ETF Gives Financiers Chance To Invest In Space Industry

The flood of new companies in the $400 Billion space industry is igniting financier interest but there is a common problem, a lack of public US firms that create the majority of proceeds from space business. Andrew Chanin—CEO and Co-founder of ProcureAM (an exchange-traded product issuer)—said, “The space business is one that is still somewhat new as far as firms and the commercial capability of firms in space is considered.” Blue Origin, SpaceX, Virgin Galactic, Rocket Lab, and others are some of the most talked names in the space companies. But those firms are not obtainable to the majority of financiers, “Though there may be private firms that are functioning on novel technologies, it is really tough to get access if you are an extremely wealthy investor,” Chanin stated.

Due to this, Chanin collaborated with Space Investment Services—led by Micah Walter-Range (Ex-Space Foundation Director of Research)—to build up the Procure Space ETF, UFO. The exchange-traded account of 30 firms gives investors’ every day a way to obtain a stake in the impending space economy. UFO also targets as much as achievable on “pure play” space firms, Chanin stated, as almost 80% gain the majority of profits from space businesses. He said, “UFO offers, compared to other kinds of investment vehicles, a moderately lower cost and diversified away to spend in this specific subject.” UFO is not restricted to the U.S. firms. He said he feels that financiers need to “access this sector by investing in international companies.”

Recently, SpaceX was in news for raising $500 Million in the middle of internal questions about satellite internet business. Reportedly, Elon Musk’s SpaceX is raising $500 Million in funding between internal questions on the possibility of an internet-via-satellite business considered crucial for the company’s growth. The fundraising—which was outlined in an authoritarian filing—came 4 Months after a likewise sized deal for the closely held company called Starlink, along with work on different spacecraft and rocket projects.

Margaret Outlaw
EDITOR & AUTHOR At The Business News 24

Margaret Outlaw pursued a master degree in astronomy and physics. It covers all topics related to science, in particular research activities in the field of space and science. Margaret is an instinctive chronicler and a source of gifted knowledge in science and technology. She is a passionate reader and enjoys working with her passion for good food, whether in the kitchen, running or playing football.

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