The popularity of Metaverse-related products continues to grow as ProShares joins the industry with a new ETP. On Tuesday, ProShares filed with the US Securities and Exchange Commission (SEC) for a metaverse-focused ETF called the ProShares Metaverse Theme ETF.
ProShares ETF issuer plans to launch an exchange-traded fund that will focus on tracking the Solactive Metaverse Theme Index, which reflects the performance of various companies operating in the AR/VR, Creative Economy, Digital Finance and Gaming sectors. The index includes industry heavyweights such as Apple Inc, Meta and Nvidia. In addition to larger companies, investors will be able to invest in smaller companies that provide or use technologies that are somehow connected to the Metaverse concept, including data processing and devices.
The rapidly evolving metaverse trend has become a distinct part of the digital asset industry, especially after Facebook Inc’s rebranding as Meta. The Metaverse ETF industry has soared to $2.2 billion in less than a few months. Most of the exchange-traded products tied to the Metaverse concept were launched only in the last quarter of the year.
One of the first products on the market to monitor the Metaverse industry, The Roundhill Ball Metaverse has had 916 million AUMs since its launch on June 30. Canada was one of the first countries to officially endorse the first two Metaverse products.