Sports betting ETF bolsters ranks with three more holdings
Roundhill Investments’ NYSE-listed fund welcomes two SPACs and a Japanese horse betting operator
BETZ, the dedicated sports betting and egaming exchange-traded fund (ETF) launched by Roundhill Investments, has been bolstered by three new holdings.
Launched on the New York Stock Exchange (NYSE) in June, BETZ continues to grow after returning 36% since its inception.
Two special purpose acquisition companies (SPAC) have been added to the fund, including Rush Street Interactive, which partnered with NYSE-listed dMY Technology in a $390m IPO deal in July.
The second addition, Flying Eagle Acquisition, linked up with mobile games platform Skillz in September in a deal with an equity valuation of $3.5bn.
The two SPACs’ stocks equal 4.46% of the total weight of the ETF.
The final addition to BETZ comes in the shape of Japanese horse betting firm TokyoTokeiba, which joins BETZ at a weight of 2.29%.
The trio joins the likes of DraftKings, Flutter and Penn National Gaming in the ETF.
BETZ was trading at a peak of $21.52 earlier today. It has since fallen to $21.25.