Europe’s first metaverse exchange traded fund (ETF) is set to launch on the London Stock Exchange this month as investors scramble to pump cash into the burgeoning sector.
The new ETF, a dual venture from emerging tech tracker ETC Group and thematic ETF firm HANetf, will be passported for sale across Europe as Metaverse investment continues to boom.
Bradley Duke, co-ceo of ETC Group said the space had been hard for investors to ignore.
“It has gone from an obscure, theoretical idea to being variously described as everything from the evolution of virtual reality to the next iteration of the internet,” he said.
“Our ETF will allow investors to gain exposure to this exciting investment opportunity.”
The new fund will track an existing global metaverse index listed on New York’s Arca exchange, a specialist exchange for ETFs.
HANetf co-founder Hector McNeil said listing the new fund in London would open the ETF up to investors across Europe.
“London is one of the most developed and liquid markets in Europe and has a strong asset and wealth management sector, as well as being a good venue for global investors outside of Europe,” he said.
“To be relevant, it is vital for a UCITS ETF to be listed in London.”
Since being unveiled by Mark Zuckerberg’s Meta last year the space has already attracted billions of dollars of investment, with analysts at Morgan Stanley and Goldman Sachs predicting it could balloon into a potential $12trillion market with $8.3trillion total consumer expenditure.