Global X has just announced their acquisition of ETF Securities Australia, another leading issuer of thematic ETFs. Global X bought out the last remaining family member of ETF Securities with the U.S. business being sold to Aberdeen Standard Investments and the European business to WisdomTree. The goal of the acquisition is to gain a strong foothold in the rapidly growing Australian ETF industry. ETF Securities top three ETFs are: ETFS Physical Gold (GOLD), the ETS Battery Tech & Lithium ETF (ACDC), and the ETFS Morningstar Global Technology ETF (TECH).
The acquisition should be good for Global X and ETF Securities as their business practices align.