ProShares Wants to Launch Metaverse ETF

ProShares filed an application with the US Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) with a focus on the metaverse.

According to Bloomberg, if the SEC approves ProShares’ application to launch the Metaverse Theme ETF, it will act like the Solactive Metaverse Theme Index.

This index is composed of companies that provide or use the technologies underlying metaverse-related products and services. The largest shares in the index are held by Apple, Meta Platforms (formerly Facebook) and Nvidia.

The volume of assets under management of such thematic ETFs, most of which were launched in the last quarter of 2021, reached $2.2 billion as of December 28.

Recently, Denver-based investment firm Kelly Strategic Management applied to create an exchange-traded fund (ETF) offering access to Ethereum (ETH) futures contracts.

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