ProShares to launch metaverse-focused ETF

The asset manager ProShares has filed with the SEC to launch an exchange-traded fund (ETF) focused on the metaverses. Bloomberg reports.

If approved, the ProShares Metaverse Theme ETF will track the Solactive Metaverse Theme Index. The index comprises companies that provide or utilize technologies underpinning products and services related to metaverses. The largest weights in the index are Apple, Meta Platforms (formerly Facebook), and Nvidia.

According to the report, assets under management for such thematic ETFs reached $2.2 billion as of December 28. Most of them launched in Q4 2021. AUM of the largest among them, The Roundhill Ball Metaverse ETF, ticker META, stood at $916 million.

“We will see more products entering the market that offer a unique twist on this long-term theme,” said Todd Rosenbluth, director of mutual fund and ETF research at CFRA.

In October began trading the first US-listed bitcoin futures ETFs from ProShares. By the end of November, the instrument had captured 95.5% of the market.

Grayscale forecasts annual revenue for the Web 3.0 metaverse sector to reach $1 trillion.

For insights into the metaverses of the future, the barriers to their creation, and the risks involved, read ForkLog’s exclusive interview with Pavel Kravchenko, founder of Distributed Lab:

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