(Blockworks) ProShares has filed with the SEC to trade a metaverse-based ETF that would monitor the performance of the Solactive Metaverse Theme Index.
The Solactive Metaverse Theme Index (SOMETAV), largely has technology stocks that are linked to the development of the metaverse.
The shares of the companies involved in the metaverse are Apple, Meta, formerly Facebook, Unity, and GPU designer Nvidia.
In its prospectus, ProShares stated that every company identified gets a score, as assessed automated scan, signaling its exposure to the metaverse industry.
Other gaming companies, including Take Two Interactive, the franchise behind the Grand Theft Auto, Electronic Arts, and Capcom Games, also integrated into the index.
The metaverse ETF launch is not the first after Evolve Funds unveiled the Evolve Metaverse ETF on the Toronto Stock Exchange that holds a majority of similar stocks.
Bloomberg believes the global metaverse revenue opportunity to reach $800 billion in 2024, with nearly $412.9 billion coming from gaming, VR, and augmented reality segments.
