Proshares Initiating ETF Metaverse soon. After filing With the US securities, and Exchange Commission. If approved the ProShares Metaverse Themed ETF will monitor the performance of the Solactive Metaverse Theme Index.
ProShares Intitiating ETF In Metaverse:
ProShare is the first firm in the US to launch Bitcoin (BTC) Exchange Traded Fund (ETF). Now moving towards the metaverse. As ProShares Initiating plan is to introduce a new metaverse-based exchange-traded fund (ETF).
On Tuesday, they filed with US Securities, And Exchange Commission for an ETF focused on the Metaverse, called the ProdShares Metaverse Theme (ETF).
Additionally, Related to the approval by SEC the offered ETC will use to track the performance of the Solactive Metaverse Theme Index (SOMETAV). That consists of the firms providing or using the metaverse linked technologies, which may include, data processing, and metaverse devices, the ETF outline reads.
Moreover, ProShare said that the index also includes the US firms that are listed in the New York Stock Exchange or The Nasdaq Stock Market. And meets certain market capitalization and liquidity needs.
Also, some big names in electronics and social media are amongst the top index components. Such as Apple, and Nvidia, and Meta (formerly Facebook).
The new Proshare Metaverse ETF filing arrives at a time when global companies fastly progressing to the Metaverse and NFT world.
On Nov. 29 the two Canadian companies Evolve Funds Group, and Horizons ETFs Management began trading their metaverse ETF on the Toronto Exchange.
Correspondingly, the ProShares Metaverse Theme ETF, The Horizons Global Metaverse Index ETF is monitoring SOMETAV.
What Is Metaverse:
In 2021, the metaverse is soaring as one of the high technology trends amid Facebook officially announcing its metaverse strategy by rebranding its product to Meta in October.
The concept of the metaverse is an online virtual world. With a variety of functions like communicating, gaming, selling, and buying digital collectibles and NFTs. Also attending games and events. Further, you necessarily need virtual tools for exploring the horizon world.
Lastly, the statistic report tells that the global metaverse market was $48 billion last year. As well, expected market growth till 2028 will reach around $872 billion.
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