Arqit Quantum one of 8 companies added to Procure Space ETF
(MorningStar) ProcureAM, a wholly owned subsidiary of Procure Holdings, LLC, has announced results of its semi-annual rebalance and reconstitution for the Procure Space ETF (NASDAQ:UFO) ― the world’s first exchange-traded fund (ETF) to offer pure-play exposure to the global space economy.
Arqit Quantum is one of the eight newly public companies have to been added to the fund’s portfolio, effective as of Dec. 20, 2021.
Arqit Quantum (ARQQ): A cybersecurity company, Arqit Quantum plans to supply quantum encryption services via satellite to secure networked devices (on Earth) against sophisticated cyber threats.
“The surge in space-related companies going public signifies that investors are ready to take the space economy seriously,” said Andrew Chanin, Co-Founder and CEO of ProcureAM. “We’re thrilled that as the space economy grows and evolves, we can continue to expand UFO’s pure-play exposure to the most cutting-edge technologies across the space sector.
UFO’s underlying index, the S-Network Space Index, was created by seasoned space industry analyst Micah Walter-Range, former Director of Research and Analysis for the non-profit Space Foundation. The index is carefully maintained using a defined rules-based methodology overseen by an impartial Index Committee and requires at least 80% of components to receive a majority of their revenue from space-related activities.