ProShares launched the ProShares S&P Global Core Battery Metals ETF (NYSE Arca: ION), an ETF that invests 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,” said 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% annually until at least 2030. 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.
“Advisors recently told VettaFi that battery technology investments to support electric vehicle demand is a key thematic area of focus,” said Todd Rosenbluth, head of research at VettaFi. “It is great to see more ETF choices available for consideration.”
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 U.S. retail investors to conveniently access on their own.
ION joins the lineup of ProShares thematic ETFs, which includes the S&P Kensho Cleantech ETF (CTEX), the ProShares DJ Brookfield Global Infrastructure ETF (NYSE Arca: TOLZ), the ProShares Online Retail ETF (NYSE Arca: ONLN), and the ProShares Metaverse ETF (VERS). The firm also launched the ProShares Bitcoin Strategy ETF (BITO), the world’s largest cryptocurrency ETF, in 2021.