ProShares has launched ProShares S&P Global Core Battery Metals ETF (ION), which they describe as the first ETF to invest only in companies mining battery metals. These companies supply the raw metals needed to power the batteries used in the growing number of electric vehicles, laptops, smartphones and energy storage devices.
“An energy revolution is underway that is transforming the way we power our lives,” says Michael L. Sapir, ProShares founder and CEO. “With ION, there is now an ETF that offers investors an effective way to access companies meeting the soaring demand for batteries and the metals needed to make them.”
Global demand for batteries is expected to grow by 25 per cent annually until at least 2030, according to academic research. ION is designed to give investors access to global companies mining lithium, nickel or cobalt—raw metals that are seeing a surge in demand due to the increase in battery production.
ION tracks the S&P Global Core Battery Metals Index—which is currently made up of 41 companies in more than 15 countries, including Australia, Indonesia, South Africa and China. Many of these companies can be difficult for US retail investors to conveniently access on their own, the firm says.
