Harvest Launches the First Digital Sports And Entertainment ETF in Canada, Benchmarked to a Solactive Index with Companies Active in the Evolution of Online and Offline Sports Activities
After the COVID-19 Pandemic hit the sports industry, with events being canceled or without the presence of the public, the sector is now in an ascending trajectory. In this landscape, betting and iGaming have become increasingly popular as leisure options that are available in the safety of our homes. A report published earlier this year by Goldman Sachs states that the sports betting and iGaming market stands on the verge of a massive growth path in the next decade with revenues in North America, accumulating more than $50 billion in volume.
Canadian investors who seek to benefit from these thriving concepts can now count on a new product and gain exposure to this industry. Harvest Portfolios Group Inc. (“Harvest”) launches the first Harvest Digital Sports & Entertainment Index ETF (“HSPN”) in the country, with Solactive’s Sports & Entertainment Index serving as the underlying for the ETF. The index primarily includes issuers that are engaged in iGambling, eGaming, sports equipment & apparel, event bookings & entertainment, and professional sports that are listed on a regulated stock exchange in North America and select global developed markets.
The selection is done based on screening of publicly available information such as financial news, business profiles, and company publications using ARTIS®, Solactive’s proprietary natural language processing algorithm.
“The launch of this new Harvest ETF with Solactive Sports & Entertainment Index as the underlying reflect that we are together at ahead of the trends. We are happy to collaborate with Harvest to make it possible for investors to gain exposure and participate in the evolution of this growing market,” comments Timo Pfeiffer, Chief Markets Officer at Solactive.
“We are excited to bring another first to Canada with the Harvest Digital Sports & Entertainment Index ETF,” said Michael Kovacs, President and CEO of Harvest. “Sports entertainment has grown into a true global leisure industry and has experienced wide acceptance across all venues from spectator to e-gaming to merchandizing and ticketing. The Sports business is regaining its foothold after months of lost revenues and empty stadiums while e-gaming continues to grow into a multibillion-dollar industry.”