Sprott Uranium Miners UCITS ETF (LSE:URNM) will be listed on the London Stock Exchange, tracking an index that included companies mining and exploring for the nuclear energy fuel.
As well as miners, the index is permitted to invest in entities that hold physical uranium, uranium royalties or other non-mining assets.
HANetf will launch the ETF in partnership with uranium experts Sprott Inc, which earlier in the week acquired the North Shore Global Uranium Mining ETF and the licence for the North Shore Global Uranium Mining Index.
Sprott also managed a physical uranium trust with over US$3bn in assets under management.
“The twin crisis of climate change and Russia’s invasion of Ukraine show the desperate need for the UK and other European nations to diversify their energy supply,” said Hector McNeil, co-chief executive and co-founder of HANetf.
“We’ve seen bold government commitments on restraining the rise in global temperature to 1.5C but that will require a revolution in how we generate our energy. While wind and solar have made huge strides and will be core parts of future electricity generation, it is becoming clear that nuclear generation also needs to be part of the panoply of solutions.
“By launching a uranium mining ETF, we hope to give investors access to this theme.”
John Ciampaglia, CEO of Sprott Asset Management (TSX:SII), added: “Uranium, the key element in powering nuclear energy, also stands to benefit from this shift towards nuclear power. However, major supply deficits currently exist which must be addressed to meet future demand. This may help usher in a new bull market for uranium prices and uranium mining equities.”