Crypto News: BlackRock becomes the latest ETF issuer in the United States to launch a thematic equity fund aimed at companies around the world that are shaping the evolution of the metaverse. The expense ratio of the NYSE Arca-listed iShares Future Metaverse Tech and Communications ETF (IVRS US) is 0.47%.

An Exchange Traded Fund (ETF) is a collection of securities that can be traded on the stock market. It combines the traits of conventional shares and mutual funds because it is a group of securities dispersed across companies, much like a mutual fund, but it can also be traded as a package on the stock market, just like shares.

Even though the metaverse is still in its early stages, the metaverse has already attracted billions of dollars in investment from major technology companies, and new virtual applications for it are constantly being developed. Recently McKinsey report predicted that by 2030, the metaverse could bring in up to $5 trillion in annual revenue and command a market value of $800 million. Read More Crypto News Here…

BlackRock Considers Metaverse A Big Opportunity

BlackRock’s belief in the metaverse as the next major investment opportunity is supported by society’s growing interest. However, it compares the immersive virtual-world concept to the internet in the early 1990s. BlackRock asserts that it is already aware of how the metaverse will alter “work and play,” with virtual conferences, golf outings, and music events all being transformed by metaverse technologies.

Top Metaverse ETF In 2023

There are many metaverse ETFs expected to come in 2023.

Roundhill Ball Metaverse ETF (METV)
Evolve Metaverse ETF (MESH)
Subversive Metaverse ETF (PUNK)
Horizons Global Metaverse Index ETF (MTAV)

Roundhill Ball Metaverse ETF Is The largest Metaverse ETF

The fund is the seventh thematic ETF in the United States to focus on the evolution of the metaverse. The largest is the $430m Roundhill Ball Metaverse ETF (METV US), which has a 0.75% expense ratio. However, the smallest is the $10m Fidelity Metaverse ETF (FMET US), which has a 0.39% expense ratio.

Also Read: What Distinguishes Facebook Metaverse From Microsoft Metaverse?

 

The post Breaking: BlackRock Issues Metaverse Thematic ETF appeared first on CoinGape.

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Filed under: News - @ February 21, 2023 7:18 am