The exchange-traded fund’s (ETF) fees and ticker are currently unknown.
BlackRock’s cryptocurrency ETF officially debuted in Europe earlier this week.
With the release of the Metaverse ETF, the biggest issuer of ETFs in the world, BlackRock, is placing a significant wager on the cryptocurrency market.
According to a regulatory filing made on September 29 by BlackRock, their iShares Future Metaverse Tech and Communications ETF will attempt to follow firms with exposure to the Metaverse. The exchange-traded fund’s (ETF) fees and ticker are currently unknown.
Preparing For the Future
There are several industries that might be represented in the BlackRock Metaverse ETF fund, such as those relating to social media, online communities, digital assets, video games, augmented reality, and more. Notably, the debut of the fund coincides with a period of extreme inactivity in the Metaverse industry.
Throughout the last twelve months, BlackRock’s cryptocurrency holdings have grown. BlackRock’s cryptocurrency ETF officially debuted in Europe earlier this week. Regulatory worries on the continent have not prevented its rollout.
BlackRock’s blockchain ETF was the first of its kind, while iShares’ Blockchain Technology UCITS ETF is only an expansion of that product. Investor interest in BlackRock’s blockchain ETF has been tepid, however. There has been a net inflow of $6 million into the fund thus far.
Conversely, BlackRock is also developing significant alliances in the crypto area. BlackRock and Coinbase formed a partnership at the beginning of August to provide their institutional customers with cryptocurrency exposure.
Despite BlackRock’s recent cryptocurrency investments, the industry as a whole has been losing steam. If reports are to be believed, BlackRock is presently positioning itself to take advantage of the next wave of cryptocurrency spike.