(SEC) Fidelity Investments is waiting on the decision of the US Securities and Exchange Commission on a filing for exchange-traded funds that track firms in the metaverse and crypto sectors.
The first, known as the Fidelity Metaverse ETF, targets companies that obtain at least 50% of their revenue in the metaverse and crypto-related technology.
Another one, known as the Fidelity Crypto Industry and Digital Payments ETF, will replicate the performance of an internal index for firms participating in crypto mining and related support services, digital payments processing, and blockchain technology. The ETF will not invest in actual digital assets or initial coin offerings.
Boston-based Geode Capital Management will run both ETFs, with the development coming at a time of growing interest in the metaverse. ProShares also filed a metaverse ETF with the SEC in December.
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