The American company ProShares, which manages the first US exchange-traded fund for Bitcoin futures, has applied for the first “Metaverse ETF”.
According to the filing, the fund, called the ProShares Metaverse Theme ETF, will be invested in various companies associated with the metaverse. For this, a special Solactive Metaverse Theme Index (SOMETAV) will be used, which tracks the dynamics of shares of companies supplying or using technologies related to the metaverse.
In addition to cryptocurrency companies, the index also includes tech giants such as Apple and Nvidia. The index was also the first to propose the concept of the metaverse company Meta, formerly known as Facebook.
That being said, Canada already has ETFs focusing on investing in the metaverse. Back on November 29, Evolve Funds Group and Horizons ETFs Management launched similar funds on the Toronto Stock Exchange. The Horizons Global Metaverse Index ETF is also based on the SOMETAV Index.
Earlier, SpaceX founder and Tesla CEO Elon Musk called Web 3.0 and the metaverse “marketing buzzwords” that are not related to reality. In his opinion, these are too far from the implementation of the initiative.
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