ProShares Plans New Metaverse ETF as Demand for Funds Surges

Bloomberg2021-12-29

(Bloomberg) -- ProShares is planning to launch an exchange-traded fund focused on the metaverse, according to a Tuesday filing with the U.S. Securities and Exchange Commission.

If approved, the ProShares Metaverse Theme ETF will track the performance of the Solactive Metaverse Theme Index.

The index consists of companies that provide or use technologies that offer products and services around the metaverse, like data processing and metaverse devices. Apple Inc., Meta Platforms Inc., and Nvidia Corp. are the index’s top weightings.

ProShares is the latest firm seeking to capitalize on the emerging metaverse trend. Global metaverse ETF assets have surged to $2.2 billion as of Dec. 28, with most ETFs only launched in the last quarter. The Roundhill Ball Metaverse (ticker META) has swelled to $916 million assets under management since its June 30 launch. In November, Canada saw two metaverse ETFs launched in one day.

“I don’t know if the metaverse theme has legs, but investors believe in it. Given the success of the ETF META, we are likely to see more products come to market that offer a unique twist on this long-term theme,” said Todd Rosenbluth, director of mutual fund and ETF research at CFRA.

The Metaverse Theme ETF caps a monumental year for ProShares, in which it became the first firm to win approval from the U.S. SEC to launch a Bitcoin futures ETF. The fund debuted as the second-most heavily traded ETF on record.

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Comments

  • 小宝老高
    2021-12-29
    小宝老高
    閱
  • SSVC
    2021-12-29
    SSVC
    Ok
  • koolgal
    2021-12-29
    koolgal
    I shall look forward to Pro Shares Metaverse ETF when it launches.  Let's see how it will compare to $Roundhill Ball Metaverse ETF(META)$ ?  It is definitely a great way to tap into this growing hot sector! 🚀🚀🚀🌙🌙🌙
    • koolgal: 
      I agree.  The prospects are certainly enticing and even more mind boggling what future Metaverse products will be!
    • koolgalReplyBaronLyly: 
      Yes that is true.  Thanks for sharing.
    • koolgalReplyLeilaLynch: 
      Thanks for sharing.
    • koolgalReplyKittyBruno: 
      I like the idea of living a 2nd life or alternate reality.
    • koolgal: 
      Yes Apple knows that Metaverse will be a gamechanger in future. Go Apple!
  • Covan67
    2021-12-29
    Covan67
    🙏
  • LifeLearner
    2021-12-29
    LifeLearner
    will you buy?
  • goh
    2021-12-29
    goh
    Nice
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