Amplify Commodity Trust: Amplify to replace ETF Managers Capital as sponsor of BDRY trust
ETF Managers Capital LLC agreed to resign as sponsor of the trust that includes the Breakwave Dry Bulk Shipping ETF (BDRY), with Amplify Investments LLC taking over the role. The change is expected to take effect in the first quarter of 2024, and the filing says it is not expected to affect the trust, its shareholders or investments in the funds, though completion is not guaranteed.
- Amplify Investments LLC will become sole sponsor of the trust after the transition, and intends to continue the trust and funds' business.
- The sponsor replacement is expected to take effect 30 to 60 days from December 28, 2023, and is expected in the first quarter of 2024.
- The trust includes the Breakwave Dry Bulk Shipping ETF (BDRY) and the Breakwave Tanker Shipping ETF (BWET).
- The filing states there is no guarantee the replacement will be completed within the expected time frame, or at all.