Yankees ETF? Wall Street now bets on baseball.
📡 FT Alphaville · 1 min read ·
Part of composite article Prediction Markets Are Quietly Eating the NFL View full article →
A new financial product turns baseball fandom into an investment. An exchange-traded fund, or ETF, lets people buy a share of a group of assets that trade like a stock. This one tracks the New York Yankees.
Critics call it another form of gambling. Supporters call it a way to own a piece of a beloved team. Either way, the line between sport and speculation keeps shrinking.