New York, NY, April 1, 2020—Today BroShares announced the launch of its second ETF, the BroShares Physically Backed Toilet Paper ETF (TEPE). The first ETF of its kind, TEPE seeks to provide investors with exposure to BroShares’ physical stockpile of premium double-ply toilet paper. “This is a once-in-a-lifetime opportunity,” said Alexandra Levis, Founder and CEO of BroShares. “We’re seeing exploding consumer demand for TP, and we just had all this toilet paper lying around, so we thought ‘why not launch an ETF?’ After a couple beers it seemed like a good idea.”
The toilet paper is vaulted in an undisclosed location with 24-hour armed guards. “This is seriously valuable stuff,” said Jonathan Butz, CFO. “We’re not going to just leave it out for anyone to use!” The expense ratio is 0.99%.
A follow up to BroShares’ first ETF, BEER, BroShares now offers a complete suite of ETFs to quarantine-proof your portfolio: beer and toilet paper exposure. “We noticed TP futures were in backwardation, so we felt we had to seize this opportunity,” said Stoyan Bojinov, CIO.
“We’ve been tempted to dip into our TP stash, but so far we’ve resisted,” said Catharine Frick, CTO. “The armed guards are very persuasive,” she added.
April Fools! Please stay safe and healthy.
The Arro Team