The world’s largest asset manager BlackRock has filed to launch an exchange-traded fund (ETF) focused on metaverses. Bloomberg reports.
The iShares Future Metaverse Tech and Communications ETF has not yet been assigned a ticker. The firm has not disclosed its fee structure.
The instrument may include shares of companies whose products or services are linked to virtual platforms, social networks, gaming, digital assets and augmented reality.
BlackRock’s offering will compete with similar ETFs from Roundhill Investments, Subversive, Fidelity, Franklin Templeton and ProShares.
Back on September 29, BlackRock launched an ETF on a blockchain company on Euronext, and in August — a bitcoin-trust for institutional clients.
Earlier Coinbase agreed to collaborate with BlackRock. The latter’s clients will gain direct access to trading digital assets through the Aladdin portfolio management system.
In April, BlackRock CEO Larry Fink stated the possibility of expanding into the crypto market. Nine months earlier he noted minimal client interest in digital assets.
Since February 2021, some BlackRock funds began investing in Bitcoin futures.
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