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iShares Enters Robotics ETF Fray

By BenZinga
Capital Markets, FinTech

BlackRock, Inc.’s (NYSE: BLK) iShares unit, the world’s largest issuer of exchange traded funds, entered the artificial intelligence and robotics arena Thursday with a new ETF.

The iShares Robotics and Artificial Intelligence ETF (NYSE:IRBO) is the newest iShares ETF and the issuer’s first focusing on the burgeoning AI and robotics investment themes.

What Happened

The AI and robotics ETF landscape is growing in terms of population and the two largest funds in the segment combine for nearly $4.5 billion in assets under management.

IRBO tracks the NYSE FactSet Global Robotics and Artificial Intelligence Index. That benchmark is ‚Äúcomposed of developed and emerging market companies that could benefit from the long-term growth and innovation in robotics technologies …

Read the full story at Benzinga.

Photo: Getty iStock

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