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According to the regulatory filing, the New York-based firm’s Metaverse ETF will invest largely in the shares of its own metaverse index. Which consists of companies positioned to gain from the metaverse’s development and commercialization.
“A set of virtual, three-dimensional, real-time produced spaces and simulations that users can experience simultaneously, regardless of their physical location,” according to Global X.
In the United States, Global X has roughly 90 ETFs with a total asset value of about $40 billion. It launched the BKCH (Blockchain ETF) in July, and it now has around $85 million in assets.
In November, the corporation also unveiled its Blockchain & Bitcoin Strategy (BITS). BITS invests in both bitcoin futures and equities of blockchain firms. Unlike other bitcoin futures-based products introduced in October by ProShares and Valkyrie Investments.
Global X’s fund joins those filed lately by First Trust, ProShares, and Fidelity Investments.
Roundhill Investments’ (META) Roundhill Ball Metaverse ETF. Which has $820 million in assets, and Subversive Capital’s (PUNK) Metaverse ETF, which launched this week, are the two ETFs available in the United States.
In December, fund providers First Trust and ProShares announced plans to create metaverse ETFs. Simplify ETFs filed a proposal earlier this month to develop a fund focused on Web3. And various enterprises in the United States.
Another metaverse ETF trading in the United States is the Fount Metaverse ETF (MTVR), which has roughly $12 million in assets. Apple is the fund’s top position, followed by Meta Platforms, which was launched in October.
The new Subversive Capital ETF has a 75 basis point cost ratio, which is the same as META. The cost of MTVR is 70 basis points.
In the following months, more metaverse ETFs are expected to hit the market in the United States. Indeed, the booming sector is closely watched by institutions, on a global scale.