Roundhill IO Digital Infrastructure ETF
BYTE
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- Roundhill IO Digital Infrastructure ETF (BYTE) is an exchange-traded fund that seeks to track the performance, before fees and expenses, of the IO Digital Infrastructure Index. The fund provides exposure to approximately 40 global companies that derive the majority of their revenues from digital infrastructure assets, including fixed-line high-speed data transmission technologies such as fiber optic cables and last-mile solutions; data centers; mobile towers and related infrastructure; and other long-lived physical assets supporting data storage, transmission, and internet functionality. It invests primarily in common stocks, American Depository Receipts, Global Depository Receipts, and equity real estate investment trusts of these digital infrastructure companies, with a portfolio optimized using proprietary growth, value, and soundness factors; at least 80% of net assets plus borrowings are allocated to such securities, and the fund is non-diversified with concentration in the communication services sector and media industry. Launched on October 28, 2021, and listed on NYSE Arca, BYTE is managed by Roundhill Financial Inc. as adviser and Exchange Traded Concepts LLC as sub-adviser, with an expense ratio of 0.75% (management fee 0.75%, other expenses 0.01%) and semi-annual rebalancing on the third Friday of March and September. The index, provided by IO Digital Index Partners and calculated by Solactive AG, requires constituents to have a minimum market capitalization of $250 million USD and $1 million average daily traded value; it mandates at least 65% U.S. companies, caps emerging markets at 15%, and non-U.S. developed markets at 35%, targeting institutional and retail investors seeking thematic exposure to the digital economy's backbone. Roundhill Investments, the firm behind BYTE and founded in 2018, is headquartered at 154 West 14th Street, New York, New York, and specializes in innovative thematic ETFs. In a major operational change, the fund announced its liquidation on November 24, 2023, ceasing new creation unit orders and liquidating portfolio assets into cash by December 14, 2023, with trading halted prior to market open on that date and final distributions to shareholders at net asset value. This followed portfolio turnover of 61% for the fiscal year ended December 31, 2022, and significant performance declines, including -36.22% for 2022; no subsequent relaunches, partnerships, acquisitions, or strategic shifts for BYTE have been reported as of late 2025. The closure reflects Roundhill's evaluation of viability amid market conditions, with proceeds treated as taxable exchanges and no transaction fees charged to remaining shareholders.