Business
SoFi Launches First-of-its-Kind Web 3 ETF and a Smart Energy ETF to Empower People to Invest in the Future
SoFi’s new ETFs join a robust lineup of funds designed to make investing more accessible to everyone SAN FRANCISCO--(BUSINESS WIRE)-- SoFi Technologies, Inc.
About this update from Sofi Technologies, Inc.
[{"type":"text","content":"\nSoFi’s new ETFs join a robust lineup of funds designed to make investing more accessible to everyone\n\n SAN FRANCISCO--(BUSINESS WIRE)--\nSoFi Technologies, Inc. (“SoFi”), the digital personal finance company, today announced that SoFi Invest1 is launching two new ETFs, SoFi Web 32 (NASDAQ: TWEB) and SoFi Smart Energy (NYSE: ENRG), designed to make it easier than ever for people to invest in two of the world’s fastest-growing industries and put their dollars into the causes and technology they are most excited about.\n\n\"Our selection of SoFi-branded ETFs enables us to offer accessible, affordable and diversified investments designed with our members in mind, which has proved especially important for the influx of new investors we’ve welcomed recently,” said Anthony Noto, CEO of SoFi. “SoFi has a unique perspective on how the next generation spends, saves, and invests their money given our breadth of products. With this next phase of ETF launches, we’re focusing on funds that help people get their money right while also allowing them to invest in what they are most passionate about right now. We know many of our members look at Web 3 and clean energy as important parts of the future, and we are thrilled to be providing low-cost investment vehicles designed to meet those interests.”\n\nAdditionally, SoFi is officially rebranding the existing SoFi Gig Economy (NASDAQ: GIGE) ETF as the SoFi Be Your Own Boss (NASDAQ: BYOB) ETF. This change will better reflect the fund’s goal of investing in companies that embody the future of work, and have transformed the way people access goods, services, and work over recent years. The BYOB ETF is actively managed, with some of its top current holdings including Airbnb (2.25%), Shopify (2.89%) and Roblox (3.44%), in each case as of August 9, 2022. Holdings are subject to change, and current BYOB holdings can be found at https://www.sofi.com/invest/etfs/byob.\n\nEach of the funds described in this release are available through SoFi Invest, as well as all other brokerage platforms. The new SoFi Web 3 and SoFi Smart Energy funds will be available for 59 basis points for all investors.\n\nThe SoFi Web 3 ETF (TWEB)\n\nThe SoFi Web 3 ETF provides investors with access to the companies powering the next tech revolution and driving a decentralized approach to the internet, such as the metaverse and a...