The ProShares files will be used to launch the metaverse fund.
Tolgart/
ProShares is the first investment firm to offer a fund that is linked to a virtual currency.
The Solactive Metaverse Theme index will track the performance of companies involved in the adoption and usage of metaverse-related technologies if it is permitted by regulators.
The New York Stock Exchange or the Nasdaq are where the US companies are listed. Some of its holdings are Apple, Amazon, and Meta.
The metaverse is a reference to internet-based interactions, engagements, and transactions made in virtual or physical spaces.
The metaverse is a virtual landscape in which plots of land have sold for millions of dollars. The metaverse has an $8 trillion opportunity in the US, according to Morgan Stanley.
Microsoft and other brands are racing to build digital worlds that are broadly based on the use of cryptocurrencies to meet transactional needs. The emerging industry has high-profile backers from traditional finance like Alan Howard, and tech natives like Masayoshi Son and Justin Sun who are betting big on the metaverse as they see younger generations doing the same.
The assets of global metaverse-focused exchange traded funds have grown to over $2 billion by the end of the year.
The first metaverse ETFs on the Toronto Stock Exchange were launched by two Canadian firms. The Solactive Metaverse Theme index is tracked by the fund.
A few firms have been approved to trade a futures-based bitcoin exchange traded fund in the US. After just two days of trading, the fund had reached $1 billion in assets under management.
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Business Insider has an original article.
