CSOP marks the launch of Hong Kong’s first metaverse ETF

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The Metaverse Concept ETF from CSOP Asset Management will begin trading on the Hong Kong stock exchange on Monday, making it the first publicly traded portfolio to assist investors pick winning firms in the next web generation.

Apple, Facebook parent Meta, Tencent Holdings, 3D graphics processor maker Nvidia, and online gaming site Roblox are among the 46 U.S. technology businesses in the exchange-traded fund’s current portfolio, which has a total capitalization of $5.2 trillion.

“Because the technologies involved in the development of the metaverse are constantly evolving, an actively-managed ETF is more suitable for investing in the metaverse,” said Kenneth Lee, director of CSOP. It was during a press briefing on the Roblox platform for virtual events and avatars on Friday. Thus, adding that active ETFs will be reviewed more frequently than passive funds.

When the ETF opened to initial memberships last week, it attracted $9 million in deposits from investors.

The ETF will invest in U.S.-listed stocks, including American Depository Receipts (ADRs). Which are part of the metaverse infrastructure in four categories. Telecom chip and network businesses, engineering stocks like display manufacturers, application developers, and content providers. When the ETF opened for initial subscriptions last week, it garnered $9 million in investments.

According to CSOP, the worldwide metaverse market is to grow rapidly over the next decade. Indeed, it expects a total value of $1.5 trillion by 2030, up from $5 million in 2020.

So far, South Korea has been Asia’s leader in metaverse investments, with $1.1 billion in assets under management last year. The most active managers of metaverse-related ETFs are Mirae Asset Global Investment and Samsung Asset Management. Whose growth fueled by demand from retail investors. According to Jaewook Chung, head of Samsung Asset Management’s ETF management team, Hong Kong investors are unable to invest in the South Korean market.

Source: https://metanews.com/csop-marks-the-launch-of-hong-kongs-first-metaverse-etf/

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