ProShares Files Application With SEC for a Metaverse ETF

ProShares has filed an software with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) targeted on the metaverse.

  • In a filing Wednesday, ProShares stated the “Metaverse Theme ETF” would monitor the efficiency of the Solactive Metaverse Theme Index, which incorporates firms uncovered to the metaverse trade.
  • The index will give the ETF publicity to U.S. firms listed on the New York Stock Exchange (NYSE) or the Nasdaq that meet sure market capitalization and liquidity necessities, ProShares stated.
  • The Solactive Metaverse Theme Index contains tech giants together with Apple, Microsoft, Intel, Meta Platforms (previously Facebook) and Nvidia.
  • The metaverse is a area generated by the convergence of digital worlds, augmented actuality and web companies. The idea has fueled a rush of funding in latest months.
  • Growth of curiosity within the metaverse has sparked a flurry of targeted ETFs. ProShares’, if accepted, will be a part of 4 in South Korea, two in Canada and the Roundhill Ball ETF that launched in June and trades on the NYSE.
  • In October, Subversive Capital Acquisition, a particular function acquisition firm (SPAC), filed an software with the SEC for a metaverse ETF investing within the shares of firms that present companies and merchandise that assist the infrastructure and functions of the metaverse.
  • Also in October, ProShares grew to become the primary agency to win SEC approval for a bitcoin futures ETF, which trades beneath the ticker “BITO” on the NYSE.

Read extra: ProShares Bitcoin Futures ETF to Start NYSE Trading on Tuesday

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