BlocksInform
proshares, the first us-based company to launch a bitcoin etf, is now exploring the realm of metaverse by planning to launch an exclusive metaverse etf.
proshares on tuesday filed with the us securities and exchange commission (sec) to seek approval to launch a proshares metaverse theme etf, an etf that will track the solactive metaverse theme index which includes firms that are associated with the metaverse technology.
proshares metaverse etf
the filing further comprised details related to the solactive metaverse theme index(sometav) that proshares intends to track once it receives approval from the sec. The sometav index consists of firms and companies that use or deploy metaverse technology in the form of data processing or metaverse devices.
The index includes companies listed on the New York Stock Exchange or nasdaq that meet specific market capitalization and liquidity requirements. It also includes major companies like Apple, Meta, Microsoft, Intel and Nvidia.
Once approved, it will allow ProShares to gauge and track the performance of the Solactive Metaverse Theme Index which consists of companies actively involved in the adoption and usage of metaverse related technology.
the soaring popularity of the metaverse
proshares’ decision to launch a metaverse etf comes amidst the rising popularity of the concept that has attracted a tremendous influx of these past few months. recently two companies, evolve funds and horizons etf management have started trading their metaverse etfs on toronto stock exchange, proving that the concept has been gaining steady momentum.
the concept of metaverse, in general, involves a world of virtual interactions. It can be described as an ecosystem that hosts various digital functionalities such as immersive gaming experiences, exchange digital nfts and collectibles, and allow users to organise or attend special events and activities in their digital avatars, facilitated by virtual and augmented reality devices.
according to a report by crypto giant grayscale, the metaverse is a potential $1 trillion market and is referred to as a “huge opportunity” for crypto companies that are looking forward to solidifying their niche in this particular sector.
