The new Sprott ETF is a part of its suite of energy transition-focused funds.

Sprott Asset Management has launched the Sprott Nickel Miners ETF (NASDAQ: NIKL), the only US-listed ETF focused on nickel mining companies providing a mineral critical for the clean energy transition.

The ETF is the latest addition to Sprott’s suite of energy transition-focused ETFs. Nickel is an essential component in rechargeable batteries used for hybrid and electric vehicles, and clean energy storage. (GlobeNewswire)

Said John Ciampaglia, CEO of Sprott Asset Management: “Automakers have begun adding more nickel to EV batteries to increase their drivable range. Demand for this critical mineral for use in EVs and battery storage may increase nearly 20 times by 2040, relative to 2020. We believe nickel producers are well positioned to benefit from the significant investment required to fund the energy transition.”

The new ETF seeks to provide investment results that correspond generally to the total return performance of the Nasdaq Sprott Nickel Miners Index.

Sprott Nickel Miners ETF joins Sprott’s suite of energy transition-focused funds, which concentrates on investment opportunities for critical minerals essential for generating, transmitting, and storing cleaner energy. With the addition of this new ETF, the suite now comprises seven funds in total.

Related Story:  Sprott Unveils ETFs For Clean Energy Metals

Image Credit: Wikimedia Commons