ProShares Files With SEC To Launch A Metaverse-Focused ETF!

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ProShares, the first company to launch a Bitcoin exchange-traded fund (ETF) in the United States, has filed with the SEC to launch a new Metaverse-focused ETF.

ProShares Files Metaverse ETF Application

The giant financial firm filed with the US Securities and Exchange Commission (SEC) on Tuesday to launch a metaverse-focused ETF called the ProShares Metaverse Theme ETF. It is stated that the ETF in question will monitor the performance of the Solactive Metaverse Theme Index (SOMETAV).

ProShares said the index includes U.S. companies that are listed on the New York Stock Exchange or Nasdaq and meet certain market cap and liquidity requirements. Technology giants such as Apple and Nvidia were reported to be among the most important components of the index.

The Metaverse Ecosystem Is Growing

With Meta (formerly Facebook) announcing that it will change its name and rebrand, the concept of Metaverse has become the focal point of the cryptocurrency market. Recently, many giant technology companies have made some statements about the great opportunities and potential in the Metaverse space. In this context, cryptocurrencies of some Metaverse projects, especially The Sandbox and Decentraland, have also exhibited very high price performances in recent months and recorded high increases in their market values.

Additionally, on November 29, Metaverse ETFs from two Canadian companies Evolve Funds Group and Horizons ETFs Management began trading on the Toronto Stock Exchange.

The information contained in this article does not constitute investment advice. Investors should know that cryptocurrencies carry risks due to their high volatility and should perform their transactions in line with their own research.