2022 Starts With A First Metaverse ETF

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Last Updated on 2 January 2022 by CryptoTips.eu

Jeroen Kok

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Neal Stephenson could have never guessed thirty years ago, when he coined the term for his debut science-fiction novel Snowcrash that in 2022, all things Metaverse would be in full swing.

As we start the year, we can report that the company ProShares, who a few months ago launched one of the first Bitcoin ETF (exchange traded fund) has now requested the US SEC for permission to start a ProShares Metaverse Theme ETF, which tracks the performance of their very own Solactive Metaverse Theme Index.

Advertentie.

Virtual environment or digital worlds

The latter is made up of companies, some of which are listed on the New York Stock Exchange or the Nasdaq, whom supply or use metaverse-related technologies, including data processing and metaverse devices.

The list would at first include giants in their sector such as Apple, Nvidia, or even Meta (formerly Facebook) but is set to grow further. In its summary section, we see that the company plans to expand towards following blockchain companies as well, as:

The Index includes companies exposed to the Metaverse industry through involvement in one or more of the following product or service areas:

– Metaverse Technology: Produces technology, infrastructure or hardware used to develop or operate the Metaverse, including technologies for virtual and augmented reality.

– Metaverse Platforms: Provides or develops non-physical, virtual environment or digital worlds where users and businesses can interact through virtual technologies. This includes platforms and services that facilitate virtual marketplaces as well as the integration of social network platforms.

Musk not a fan

A study by Reports and Data indicates that the global Metaverse market was worth $ 48 billion in 2020. This figure is expected to reach $ 872 billion by 2028. The craze for Metaverse (and related coins) continues to grow, with Facebook’s rebrand to Meta helping it achieve worldwide name recognition (Zuck did get a few laughs for his presentation though).

However, some tech personalities are non-believers. Tesla and SpaceX founder Elon Musk, for example, has displayed his skepticism about the future of these virtual worlds already. Others also claim that people won’t be persuaded to abandon their normal lives to go and live in a virtual world. Time will tell what the true reach of the Metaverse concepts will bring of course, but for 2022 it’s already a good start.