The emerging e-sports sector is getting its first Canadian exchange-traded fund (ETF).
On June 17, Toronto-based Evolve Funds Group Inc. will launch an ETF that offers investors exposure to companies operating in the e-sports sector.
The Evolve E-Gaming Index ETF (HERO) will aim to track the Solactive eGaming Index, which is comprised of software companies operating in the e-gaming and e-sports sector.
The firm said the fund has received regulatory approval to list on the TSX.
“The launch of HERO marks an opportunity for Canadian investors to participate in another innovative sector positioned for exponential global growth,” said Raj Lala, president and CEO of Evolve.
Lala said e-gaming “signifies a cultural shift in entertainment” with 2.2 billion gamers globally and almost 500 million people expected to watch e-gaming events, which will lead to additional revenue from media rights and sponsorships.