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The PureFunds ISE Cyber Security ETF (NYSEARCA: HACK) has got a fantastic response from investors since its launch in November, especially when the niche category it deals in and the relatively lesser unknown fund house that has launched it are considered.
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Bloomberg’s Eric Balchunas recently explained why this ETF is off to a good start and why are investors flocking to this ETF when they are reducing exposure to the tech sector overall.
“They say timing is everything with a new launch and this ETF, the PureFunds ISE Cyber Security ETF has perfect timing,” Balchunas said. “It has also got a good ticker ‘HACK’, basically this is a basket of about 30 companies involved with the software or the servicing of CyberSecurity and its off to a fast start in both, in a lot of ways, one it has got $50 million in assets after three weeks. That doesn’t sounds like a lot, but after three weeks it is and also it has gotten that money slowly like almost every day this month money has come in”
“PureFunds is a very relatively unknown issuer. So, it’s a bit like the equivalent of a hit indie film, in other words. Doesn’t have a big distribution, it’s just a good idea and the timing is so perfect, its in the news […]”
Balchunas related this ETF with social media ETFs by saying “It reminds me of social media a few years back where the social media ETF was the only one who had some of the social media stocks.”
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.