Every $1 NASA spends drives up to $10 in growth, and that's great for the space industry, says man behind the $UFO ETF (via ETFEdgeCNBC)
into space as soon as early 2020, it will expand the whole industry, Chanin said.
"We're seeing America's place in space starting to change," the CEO said. "We're also seeing tons of interest from around the world. China has aspirations, Russia has aspirations, India, Canada, and so on. So, the ideas, the technologies, where the winners are going to be? It's tough to say. But, certainly, having a contract from NASA saying, 'OK, we want to fund you to get to a certain point' is certainly helpful.
ETF industry experts like Chris Hempstead, a top consultant and Deutsche Bank's former head of ETF sales, said the inherent opportunity in this growing area of the market "struck" him when he was first helping Chanin launch UFO. "What struck me as a consumer, as someone who's just learning about it for the first time, was that satellite story in and of itself," Hempstead said in the same "ETF Edge" interview.
"There's only a finite amount of satellite space above this planet, and so as these companies that you're looking at that are in this ETF vie for control of where to put those satellites not only amongst themselves in the U.S., but globally with other countries. It's a really interesting story about that, the cost of doing that and the value associated with having a satellite in orbit that can do some of the things that Andrew alluded to," he said.
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