A new exchange traded fund (ETF) called SKYY has been launched to invest in public cloud computing companies.

Cloud computing is projected to be one of the fastest growing IT sectors as businesses and consumers continue to migrate to a cloud environment. Forrester Research is projecting total public cloud revenues to go up 27% annually to reach nearly $160 billion by 2020, up from $15 billion in 2010.

To be a holding in the fund the entities must be engaged in a business activity supporting or utilizing the cloud computing, listed on an index-eligible global stock exchange and have a market capitalization of at least $100 million.

The fund will hold a total of 40 companies in three segments:
- Pure Play Cloud Computing Companies: Companies that are direct service providers for “the cloud” (network hardware/software, storage, cloud computing services) or companies that deliver goods and services that utilize cloud computing technology.
- Non Pure Play Cloud Computing Companies: Companies that focus outside the cloud computing space but provide goods and services in support of the cloud computing space.
- Technology Conglomerate Cloud Computing Companies: Large broad-based companies that indirectly utilize or support the use of cloud computing technology.

Some holding in fund include: