The world of exchange-traded funds (ETFs) continues to expand at a rapid pace. Today, investors can trade in a plethora of strategies, including active and passive offerings.
With the advent of artificial intelligence (AI) and the rapid rise of this sector, investors have rushed to participate in AI growth, and Wedbush has capitalized on this demand.
Named after Dan Ives, the Dan IVES Wedbush AI Revolution ETF (NYSE:IVES) is reporting that it has hurdled the $1 billion milestone. While not that much in the world of ETFs, the fund, which launched this past summer, is notable in its growth, as well as the name of the ETF. Dan Ives, Managing Director and Global Head of Technology Research at Wedbush, is a well-known analyst for his tech prognostications, which have been highly accurate, like with Apple (NASDAQ:AAPL), as well as his questionable sartorial choices.
Dan Ives’ research is driving IVES, and he believes the AI revolution is the most transformative we have seen in decades.
“We’re only in the early innings of this AI boom, and there’s still a lot of game left to play,” says Ives.
While Ives has consistently nailed Apple’s hyperbolic growth, while some others missed the opportunity, this is no guarantee of future success. Yet he is accurate in declaring that AI remains in the early innings, with much growth and perhaps corrections to come.