KB Asset Management Launches First US Listing of Global Battery Recycling ETF

KB Asset Management has listed an exchange-traded fund (ETF) on the New York Stock Exchange (NYSE) that invests in key companies across the secondary battery industry, including spent batteries. This product is KB Asset Management's first ETF introduced to the U.S. market and marks the first listing of a spent battery-related ETF on the U.S. stock market.

On the 22nd, KB Asset Management announced, "In collaboration with U.S. asset management firm NEOS Investment, we listed the 'Mast Global Battery Recycling ETF' on the U.S. stock market on the 21st (local time)."

This product is the global version of the 'KBSTAR Battery Recycling iSelect ETF' currently managed by KB Asset Management. The Mast Global Battery Recycling ETF tracks the Indxx Global Battery Recycling and Production Index, which invests in 38 global companies related to spent battery recycling. In addition to battery recycling, it broadly invests in key raw materials and the battery ecosystem to benefit from the overall growth of the secondary battery and electric vehicle industries.

According to SNE Research, the battery recycling industry, which extracts key minerals such as lithium, cobalt, and nickel from end-of-life electric vehicle batteries for reuse in new batteries, is expected to grow at an average annual rate of over 34% until 2035.

Cha Dong-ho, Head of ETF Solution Management at KB Asset Management, said, "Through partnership with a local asset manager and the U.S. ETF listing, we have established a foothold for future global market expansion. We plan to actively pursue global market entry by keeping all possibilities open, including establishing or acquiring local asset management firms overseas."