ProShares filed the application with U.S. regulators and is waiting for a response for its new ETF. Meanwhile, similar metaverse-related investment products have already been approved in Canada.
The emerging metaverse trend is rapidly escalating and is now looking to reach exchange-traded funds (ETFs).
ProShares a well-known ETF issuer in the United States, is planning to launch a new mutual fund focused on the metaverse. As reported by Bloomberg , ProShares filed an application for the metaverse-themed ETF with the U.S. Securities and Exchange Commission (SEC) on Tuesday of this week.
Metaverse Trend Hits ETFs
According to the public presentation the new product, called “ETF an Exchange-traded Fund, an investment fund that users trade on exchanges and trading platforms. Metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users. Theme“would track the performance of the metaverse’s theme index of Solactive (SOMETAV).
As such, this index comprises U.S.-listed companies that manufacture, provide or use technologies that support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. metaverse-related products and services, such as data processing and related technology equipment such as virtual reality headsets.
The top three weighted stocks in the index include the tech giant, Apple the multinational computer hardware company, Nvidia , y Meta the social networking platform a place to buy, sell and store cryptocurrency (formerly Facebook ).
ProShares which in October of this year was became the first to issue a futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. ETF of the Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. in the U.S., is hoping for the same regulatory fortune in order to launch its new metaverse product. It should be noted that the ETF has yet to be approved by the SEC, so there is no definite timeline for launch.
This isn’t the first product of its kind that is looking to cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. in on the latest tech trend. As reported by Cointelegraph the companies Canadians, Evolve Funds Group y Horizons ETFs Management , began to trading its metaverse ETFs on the Toronto Stock Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. late last month. . Similar to the product of ProShares the ETF of Horizons also tracks the index SOMETAV.
Bloomberg adds that other metaverse ETFs have emerged globally, showing great success. Assets in such products have soared to USD $2.2 billion, with most of the ETFs only launched in the last quarter.
Interest in the metaverse grows
The emergence of new metaverse-related exchange-traded funds comes amid widespread interest in the metaverse. The term, which originated in science fiction literature, has become the buzzword of the day since Facebook announced its name change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. to Meta in an effort to develop their own metaverse.
The concept of the metaverse refers to online virtual environments where people can interact socially, among other functions such as playing games, exchanging digital digital technologies are these electronic tools that have the ability to generate, store or even process data. goods, attending events, and more. These virtual universes leverage money that a trader borrows from a brokerage, enabling them to gain far greater exposure to a position than what their capital allows. devices and technologies such as virtual and augmented reality headsets, tokens Non-Fungible (NFT), among others.
In addition to fund managers, a large number of companies worldwide have taken an interest in the trend. Sports brands Adidas y Nike have already taken their first steps into the metaverse and NFTs, while some large banks have anticipated that it could become a multi-billion dollar market in the coming years.
- Bank of America CEO: “The metaverse is where we’re going to use cryptocurrencies as currencies.”
- Ferrari targets NFTs non-fungible token, a unique non-interchangeable piece of digital content that is stored on a distributed ledger (blockchain). with new partnership with Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. firm, Velas
- Barbados to become the first sovereign nation with an embassy in the metaverse
Article versioned by Hannah Estefania Perez / DiarioBitcoin
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