Clouty.io Introduces The Clouty Tune ETF Tracking The Solactive Clouty Tune Index
Solactive is pleased to announce its first engagement with Clouty.io on the launch of the Clouty Tune ETF, tracking the Solactive Clouty Tune Index. In the thriving Music and Entertainment industry, the Clouty Tune ETF offers investors a gateway to capitalize on these dynamic sectors’ rapid growth and transformation while diversifying their investment portfolios.
As the Music and Entertainment industry experiences unprecedented evolution and innovation, the Clouty Tune ETF aims to capture the performance of companies that are revolutionizing the landscape. By allocating resources in this ETF, investors have the opportunity to tap into the potential of progress and success of key players in the industry, from music platforms to entertainment technology providers.
The Solactive Clouty Tune Index is designed to track the performance of innovative companies that are revolutionizing the music and entertainment industries. The index’s methodology selects companies based on their significance and impact within the industry. Focusing on these sectors in the global markets universe, it also targets securities with a high correlation to music consumption attitudes in the United States market based on the Clouty MUSIQ Index.
By adopting a diversified approach across interconnected sectors, the index leverages synergies and interactions within the industries, enhancing the potential for investment success.
The ETF listed on June 22 on the New York Stock Exchange under the ticker symbol “TUNE”.
Timo Pfeiffer, Chief Markets Officer at Solactive, commented: “I am myself a strong advocate for the convergence between music and finance and I am honored that Solactive is helping to bring this innovative ETF to the market, providing the Solactive Clouty Tune Index. This pioneering product opens up possibilities to tap into the dynamic and transformative music and entertainment industry. It was a delight to work closely with Clouty.io to create an index that prioritizes diversification and innovation.”
David Umeh, CEO and founder of Clouty, said: “It’s been a pleasure working with Solactive to create the index behind TUNE. Diversification was the target here and it’s time introduce this to the world. We are firm believers in the growth at the intersection of music and finance and it’s a huge honor to be the first in the market with this ETF.”