Source, the European ETF provider which recently confirmed its entry into the US market, has announced the launch of its debut US ETF, the Source Euro Stoxx 50 ETF (ESTX).

Peter Thompson, Source President.

The ETF, which has been listed on the NYSE Arca, offers highly liquid exposure to the European equity market via the Euro Stoxx 50 Index.

The Euro Stoxx 50 is comprised of 50 of the largest companies domiciled in the Eurozone and the primary hedging tool used by global trading desks.

London-headquartered Source, one of the fastest-growing ETF providers in Europe, has joined forces with Exchange Traded Concepts (ETC), the white-label ETF issuer, for the creation and implementation of the Source ETF Trust, a Delaware statutory trust, utilizing ETC’s existing exemptive relief.

“Entering the US is the next step in the growth of our global business,” Source President Peter Thompson said. “We see a tremendous opportunity to deliver market-driven, value-added products to American investors, and are excited about the opportunity ahead to serve the US market.”

“We consider it a privilege to have collaborated with Source on such an exciting venture,” added J. Garrett Stevens, CEO of Exchange Traded Concepts. “ETC expanded our service offering by creating a dedicated trust exclusively for Source, using existing resources and operational expertise to effectively operate their Trust in a cost-efficient manner.”

ETC, together with Source, will serve as co-advisers for the fund with Mellon Capital serving as sub-advisor.

Gabby Parcella, chief executive officer of Mellon Capital, said: “As a leading ETF sub-advisor, we are pleased to utilize our investment expertise and operational infrastructure to help Source launch its initial ETF in the US. With Mellon Capital’s expertise in sub-advising more than $120 billion in assets across a wide range of asset classes and Source’s track record of delivering market-driven, value-added products to investors, we are confident that this new offering will be attractive to US investors.”

The ETF has a total annual operating expense ratio of 0.16%.

Subsequent ETF listings are anticipated in the coming months.