DriveWealth ETF Trust - DriveWealth ICE 100 Index ETF
CETF
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- United States of America
- IPO Date
- May 2, 2023
- Similar Companies
- Business
- DriveWealth ETF Trust (the Trust) serves as the issuer of exchange-traded funds, including the DriveWealth NYSE 100 Index ETF (ticker: CETF), which seeks to track the performance, before fees and expenses, of the NYSE DriveWealth 100 Index, a rules-based, equal-weighted benchmark comprising the top 100 U.S.-listed ETFs selected by size, liquidity, and risk-adjusted returns. The Trust, formed under New Jersey law and headquartered at 15 Exchange Place, 10th Floor, Jersey City, New Jersey, launched operations around 2023 through filings with the U.S. Securities and Exchange Commission. Eligible ETFs for inclusion must be listed on major U.S. exchanges such as NYSE Arca, NYSE, Nasdaq, or Cboe BZX; hold at least $100 million in assets; exhibit average daily volume exceeding $3 million; and exclude leveraged, inverse, exchange-traded notes, or ETF-of-ETFs products, with quarterly rebalancing to maintain equal 1% weighting across constituents. The Trust's sole active offering prior to recent developments focused on CETF, providing investors diversified exposure to leading U.S.-listed ETFs across sectors, asset classes, and issuers via a replication strategy that allocates substantially all assets to the index constituents; the fund trades on NYSE Arca and targets institutional and retail investors seeking broad ETF market performance. DriveWealth, LLC, the parent entity and a global brokerage-as-a-service platform founded in 2012, supports the Trust through its subsidiary DriveAdvisory, LLC, enabling embedded investing in U.S. equities, over 3,000 ETFs, mutual funds, fixed income, and options for partners worldwide. In a major strategic shift announced in 2024, the Board of Trustees approved the liquidation and termination of the Trust and CETF due to factors impairing economically viable operations; trading ceased on July 22, 2024, with final cash distributions to remaining shareholders at net asset value on or about July 29, 2024, marking the Trust's closure to new investments and reflecting challenges in achieving scale with assets under management below $1 million. No recent partnerships, funding rounds, acquisitions, or new product launches were identified for the Trust itself within the last two years, though parent DriveWealth, LLC pursued broader embedded finance expansions. The Trust operated solely in the U.S. market, with no international geographic footprint or subsidiaries noted beyond advisory ties to DriveWealth entities.