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First Metaverse ETF Application Filed by ProShares

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Wed, 29/12/2021 - 8:18
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First Metaverse ETF Application Filed by ProShares
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ProShares ETF issuer is planning to launch an exchange-traded fund that will be focused on tracking the Solactive Metaverse Theme Index that reflects the performance of various companies that operate in the AR/VR, Creator Economy, Digital Finances and Gaming sectors.

The Metaverse tracking product

The index includes industry heavyweights like Apple Inc, Meta and Nvidia. In addition to larger corporations, investors will receive exposure to smaller companies that are providing or using technologies somehow tied to the Metaverse concept, including data processing and devices.

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The quickly developing metaverse trend has already become a separate part of the digital assets industry, especially after Facebook Inc rebranded to Meta. The Metaverse ETF industry has spiked to $2.2 billion in less than a few months. The majority of exchange-traded products tied to the Metaverse concept were launched in the year's last quarter only.

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One of the first products on the market related to tracking the Metaverse industry, The Roundhill Ball Metaverse, has $916 million AUM since its launch on June 30. Canada was one of the first countries to officially approve the first two Metaverse products.

The potential behind Metaverse products

According to Todd Rosenbluth, director of ETF research at CFRA, the Metaverse trend is yet to form a foundation under itself, but investors already believe in the technology and the newly forming industry that might attract even more funds, with more products coming to the market.

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ProShares' path in the digital assets industry in 2021 could easily be named one of the most efficient performances among ETF issuers. The company scored fundamental approval from the U.S. SEC to launch a futures-backed Bitcoin ETF, which let the fund debut on the market with a record-breaking $1.2 billion of inflows in the first week of trading.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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