Hang Seng Indexes launches China Metaverse Activity Index

Investor interest in the metaverse market prompted the Chinese company Hang Seng Indexes to create an exchange tool that tracks virtual reality development companies from China.

The creators of stock indexes from Hang Seng Indexes declared that the new tool will track the performance of meta-companies from mainland China and Hong Kong. The Metaverse In Index is calculated and distributed in real time at two-second intervals.

Hang Seng explained that the decision to launch the index came amid the growing popularity of the metaverse as an investment vehicle. Together with the Metaverse Market Index, the company added an index to the Megatrend index series that tracks the activities of medical companies related to oncology.

Hang Seng’s chief index director Daniel Wong said the decision to launch was made following a study of demand in China’s investment market.

“New trends are having an increasing impact on our daily lives. Our two new megatrend indices are designed to help investors seize the potential opportunities associated with innovative and transformational trends in mainland China and Hong Kong equity markets,” said Wong.

The Hang Seng China Metaverse In index will also track the activities of the two largest companies in the IT and entertainment market Tencent Holdings and Baidu.

At the end of 2021, the American company ProShares, which manages the first exchange-traded fund for Bitcoin futures in the United States, applied for the first “ETF on the Metaverse”. A fund called the ProShares Metaverse Theme ETF is going to invest in companies related to the metaverse. To do this, a special Solactive Metaverse Theme Index (SOMETAV) will be used, which tracks the dynamics of the shares of companies that supply or use technologies related to the metaverse.