2022-3-18 14:09 |
The first metaverse exchange-traded fund (ETF) in Europe has been listed on the London Stock Exchange. The ETF will be available to investors across Europe, and it will trade under the ticker METR.
First Europe metaverse ETFThe METR ETF will allow European investors to access investment in the booming metaverse sector. This ETF will track the Solactive ETC Group Global Metaverse Index. Solactive creates custom indexes using reputable calculation engines and Artificial Intelligence (AI).
Those who invest in this ETF will gain exposure to the metaverse. It will provide exposure to companies that engage in online gaming, video streaming, 3D graphics, VR/AR, semiconductors, blockchain technologies, cloud services, etc.
The ETC Group behind this ETF had earlier launched another EFT under the ticker, KOIN. The ETF also offers exposure to digital assets and blockchain companies. ETC and HANetf have previously worked together to launch cryptocurrency ETFs totally backed by cryptocurrencies.
The founder of ETC Group, Bradley Duke, commented on the development saying,
The metaverse has been hard for investors to avoid. IT has gone from an obscure, theoretical idea to being variously described as everything from the evolution of virtual reality to the next iteration of the internet. Our ETF will allow investors to gain exposure to this exciting investment opportunity.
Growth of the metaverseThe metaverse has achieved significant growth over the past year. So far, this sector has attracted billions of dollars worth of investments. Some of the leading financial institutions in the US, including Morgan Stanley and Goldman Sachs, have estimated that the metaverse could reach a trillion-dollar valuation in the coming years.
The metaverse also lures strategic partnerships between financial institutions and blockchain companies that provide virtual worlds. JPMorgan announced that it would launch the Onyx Lounge on Decentraland. The latter is one of the leading projects on the metaverse.
Recently, HSBC announced partnering with The Sandbox to launch virtual educational services. The Sandbox will host this educational platform for HSBC, marking the second leading financial institution working in services on the metaverse.
The post First Europe metaverse ETF trades on the London Stock Exchange appeared first on Invezz.
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