CHICAGO, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Amplify ETFs announced today it has completed its previously announced acquisition of ETF Managers Group (ETFMG) exchange-traded fund (ETF) assets, which consist of over $3.7 billion of assets under management (AUM) across 14 ETFs (as of 1/26/2024). Amplify ETFs will now manage $9.1 billion of AUM as of 1/26/2024.

“The completion of Amplify’s first sizable ETF acquisition begins an exciting new chapter for our organization,” said Christian Magoon, CEO of Amplify ETFs. “Since 2016, Amplify has sought to develop innovative products that provide professionally crafted access to unique market segments and investment strategies. The addition of these ETFs is an extension of our existing product development mandate and allows Amplify to significantly grow its unique investor solution set.”

Magoon added, “We envision a brighter future for the acquired ETFs as they both complement our existing product lineup and will experience increased awareness and availability due to our current momentum across national accounts, distribution, and marketing. We look forward to engaging with investors on these timely market segments and themes.”

Amplify ETFs finished 2023 at a record high ETF AUM and shares outstanding. Amplify ETFs grew its AUM by 36% on the year, outpacing the overall US ETF industry’s growth rate of 26%. The completion of this acquisition positions Amplify in the top 13% of ETF sponsors.*

“While working through the transaction this past year, we remained committed to our overall mission of adding value to investor portfolios,” said William Belden, President of Amplify ETFs. “We launched three new ETFs in areas of the market that were untouched or open for enhancement.”

Effective as of the close of business on January 26, the following ETFMG ETFs have been reorganized into corresponding newly created exchange-traded funds of Amplify ETFs.

On December 28, 2023, ETF Managers Capital LLC, as the sponsor of ETF Managers Group Commodity Trust I, entered into an agreement to resign as sponsor to the trust and transfer its role as the sponsor to Amplify Investments LLC, effective soon after necessary regulatory approval of the transfer. Amplify will serve as the new sponsor of the Trust, which consists of two series: Breakwave Dry Bulk Shipping ETF (BDRY) and the Breakwave Tanker Shipping ETF (BWET).

Oppenheimer & Co served as the exclusive financial advisor to Amplify ETFs in this transaction. Financial terms of the transaction were not disclosed.

About Amplify ETFs
Amplify ETFs, sponsored by Amplify Investments, has over $9.1 billion in assets across its suite of ETFs (as of 1/26/2024). Amplify’s ETFs deliver expanded investment opportunities for investors seeking growth, income, and risk-managed strategies across a range of actively managed and index-based ETFs. To learn more visit AmplifyETFs.com.

^* Amplify ETFs analysis based on morningstar.com and ETF.com data as of 1/26/2024. 

Carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. This and other information can be found in the Fund’s statutory and summary prospectuses, which may be obtained at AmplifyETFs.com. Read the prospectus carefully before investing.

For a prospectus, click on BWET and BDRY.

Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

Amplify ETFs are distributed by Foreside Fund Services, LLC.