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BetaShares

  •   11 February 2021
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Reaching for the sky: BetaShares to launch Australia’s first cloud computing ETF

SYDNEY, 11 February 2021: BetaShares has today announced it expects to shortly launch the first ETF traded on the ASX to provide thematic exposure to the rapidly-growing cloud computing industry.

Cloud-based computing services has been one of the fastest-growing segments of the global technology revolution in recent years, with revenues forecast to grow 17.5% p.a. to reach US$832 billion by 2025.

The benefits of cloud-based computing have never been more apparent than today, with the COVID-19 pandemic accelerating existing trends which rely on cloud-computing services such as flexible working, video conferencing, online shopping and digital media consumption. Given ongoing growth in online activity, and the sizable share of the world’s digital data and software applications still maintained outside of the cloud, continued adoption of cloud-related services seems likely.

The BetaShares Cloud Computing ETF (CLDD) will aim to tap into this potential, by tracking an index of leading listed cloud computing companies, across both developed and emerging markets.

Subject to relevant approvals, the BetaShares Cloud Computing ETF (CLDD) is expected to start trading on the ASX in late February 2021.

Read more...

 

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