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ProShares files for ETF that tracks companies focused on the metaverse

ProShares, which debuted a bitcoin futures-tied exchanged-traded fund earlier this year, wants to list an ETF that tracks companies working on metaverse-themed initiatives.

The post ProShares files for ETF that tracks companies focused on the metaverse appeared first on The Block.

ProShares, which debuted a bitcoin futures-tied exchanged-traded fund earlier this year, wants to list an ETF that tracks companies working on metaverse-themed initiatives.

If approved, ProShares Metaverse Theme ETF, according to Wednesday’s filing, will track the Solactive Metaverse Theme Index. That particular index tracks a who’s-who of technology giants, including Apple, Meta (formerly Facebook) and Alphabet, as well as gaming majors Activision Blizzard, EA and Take-Two, among others.

In sum, the indexed companies are those believed to be staking out future business lines in the so-called metaverse, referring to virtual worlds, 3-D experiences, personal avatars and other areas.

To be sure, the ETF itself doesn’t appear to have any direct focus on cryptocurrencies or non-fungible tokens. Yet some of the companies included on the index, including Twitter and Meta, have pursued crypto-related initiatives in the past.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Source: https://www.theblockcrypto.com/linked/128748/proshares-files-for-etf-that-tracks-companies-focused-on-the-metaverse?utm_source=rss&utm_medium=rss

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