First Trust Files For Smartphone ETF (FONE)

As more and more ETFs have hit the markets in recent years, most of the widely-followed broad market indexes have been transformed into (essentially) investable assets. More recently, much of the growth in the equity ETF space has come from funds offering more granular exposure to domestic and international stock markets; junior gold miners, wildcatters, and gambling companies are all the focus of various ETFs (with varying degrees of success). Some have lamented this increased granularity as a sign of ETF saturation, but it seems that there are still plenty of good ideas out there (as evidenced most recently by the impressive start of the Lithium ETF). Among the stones yet to be turned over: an automotive ETF, a Norway ETF, and a smartphone ETF [see Ten ETFs That Don't Exist But Should]. Maybe we’ll be able to scratch that last one off the list in the not-so-distant future; in a [...] Click here to read the original article on ETFdb.com. Related Stories: Smartphone ETF On The Horizon? First Trust To Launch First Smart GRID Energy ETF Northern Trust ETFs: Back For Round II?