Alternative Investments/FinTech: Roundhill To Launch ETF For The “Digital Payment Universe”

September 24, 2021 | Alternative Investments, FinTech, News
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Roundhill Investments has filed for an ETF that will invest in companies that facilitate digital payments.

Roundhill Investments will soon launch the Roundhill Digital Payments ETF (PAYY) which will invest in companies that are a part of the so-called “digital-payment universe” as defined by the Roundhill Digital Payments Leaders Index. (Seeking Alpha)

A new digital payments ETF (PAYY)

The Index includes digital payments companies operating in a wide variety of sectors including technology, data processing, marketing, software, consumer finance, and electronic equipment sectors.

These companies may engage in digital payments activities in a number of ways, including the following:

•Providing the technology, infrastructure, and/or intermediary platforms for businesses to process or accept digital payments from consumers or other businesses;

•Creating hardware or other tangible goods which directly or indirectly facilitate commerce using digital payments;

•Creating a digital currency, digital wallet, or other software program which allows parties to barter with each other without exchanging fiat money; and/or

•Providing support to businesses otherwise engaged in the digital payments ecosystem, via marketing, research, or operations.

According to the filing, the new ETF, the seventh from the firm, will be a passively managed ETF trading on the New York Stock Exchange.

No details were provided on the expense ratio of the fund.

Fund management

Exchange Traded Concepts, LLC, is responsible for the day-to-day management of the Fund. Andrew Serowik, Todd Alberico and Gabriel Tan are the Fund’s Portfolio Managers.

Mr Serowik and Mr Alberico previously worked at Goldman Sachs and Mr Tan at UBS.

Related Story: Roundhill Launches A Virtual Worlds’-Focused “Metaverse” ETF

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