In an exchange-traded fund landscape that has over 2,000 funds for investors to choose from, it’s important to have product differentiation in this quest for assets under management. Well, exchange-traded product (ETP) issuer ProcureAM, is boldly going where no one has gone before with the launch of the Procure Space ETF (NYSE Arca: UFO)–the world’s first global ETF to give investors pure-play access to the expanding space industry.

It’s a bold take on an industry that is poised for growth. Per a SpaceNews article, “At the recent National Space Council meeting, U.S. Vice President Mike Pence challenged the nation to begin exploring space again with a human mission to the moon’s south pole by 2024.”

Outside of the government realm, private companies like Amazon are propping up their space exploration ventures with investment capital. Amazon CEO Jeff Bezos has an entire other company dedicated to space exploration

The online retailer has ambitious plans to set up a network of more than 3,000 satellites to expand high-speed internet access worldwide.

Tesla CEO Elon Musk’s other company, SpaceX, expects revenues from rocket launch services to hit $3 billion per year. This can help provide the capital necessary to fund Musk’s larger dream of developing new spacecraft capable of flying customers to the moon as well as feed other ambitions of colonizing Mars.

“We think this is a key stepping stone on the way towards establishing a self-sustaining city on Mars and a base on the moon,” said Musk.

UFO tracks the S-Network Space Index, which focuses on companies that are significantly engaged in space-related activities. Index constituents span multiple industries, including satellite-based consumer products and services, rocket and satellite manufacturing, space technology hardware, and space-based imagery and intelligence services.

Approximately 80 percent of companies in the index derive the majority of revenues directly from their involvement in the space industry, enabling investors to potentially capture this growing segment of the global economy. The Commerce Department is already throwing its support behind the American space industry with ambitious goals for regulatory reform and promotional efforts.

UFO is the first product launched by ProcureAM, a new ETP issuer founded by innovative ETF entrepreneur Andrew Chanin and ETF industry luminary and veteran Robert “Bob” Tull, who has helped build and launch over 400 ETFs.

“I am honored to bring UFO to market alongside Bob, a trusted mentor with one of the most respected names in the ETF industry,” said Chanin, co-founder and CEO of ProcureAM. “Whether we realize it or not, the space industry touches virtually every aspect of our daily lives – from weather forecasts to GPS systems. The industry is already valued at $384 billion, and estimates project that number to eclipse $1.1 trillion by 2040. Through UFO, investors can now potentially capitalize on this increasingly significant and transformational industry.”

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