TPAY - New Roundhill Digital Payments ETF is set to launch

Roundhill Investments is unveiling the Roundhill Digital Payments ETF: PAYY, which plans to invest in companies that are a part of the digital-transaction ecosystem. Per a U.S. Securities and Exchange Commission filing, PAYY will be a passively managed fund that intends to track the Roundhill Digital Payments Leaders Index. The index covers the "digital-payment universe," which Roundhill defines as companies that participate in developing, producing or servicing fintech products and services to facilitate digital payments. Firms in the index provide things like tech infrastructure or intermediate platforms in such areas as digital currencies or digital wallets. PAYY intends to trade on the New York Stock Exchange, but Roundhill hasn't disclosed its expense ratio yet. The new ETF will likely compete with other fintech funds, such as ARK Fintech Innovation (NYSEARCA:ARKF), Global X FinTech ETF (NASDAQ:FINX), ETFMG Prime Mobile Payments ETF (NYSEARCA:IPAY) and Tortoise Digital Payments Infrastructure Fund (NYSEARCA:TPAY). PAYY will be Roundhill Investments seventh

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New Roundhill Digital Payments ETF is set to launch