ProShares, which has realized the issuance of Bitcoin-related exchange-traded mutual funds in the USA as gilk, has now applied to the US Securities and Exchange Commission for a Metaverse-focused ETF.
It is stated that ProShares will use the "Solactive Metaverse Theme Index" as a basis for the Metaverse-backed ETF, which will be the first in the USA if it gets approval from the SEC. The index in question consists of technology companies focused on products and services related to Metaverse and data processing.
The weight of the index is made up of leading companies such as Apple (NASDAQ:AAPL), Meta (Formerly Facebook) and Nvidia. In addition to these main companies, the index also monitors the performances of companies operating in the virtual reality, digital finance and gaming sectors.
In the last quarter of the year, a Metaverse ETF market started to form around the world, mainly. By the end of the year, the value of global Metaverse ETF products is reported to have reached $2.2 billion. Roundhill Ball Metaverse, which has $916 million in assets under its management, has a significant share in this market. On the other hand, Canada is a fast moving country in this field. Two Metaverse ETFs were approved in Canada in November.
Taking action to launch the first Metaverse ETF in the USA, ProShares stands out as a financial giant by closely following the latest trends in technology. Getting approval for the first Bitcoin futures ETF in the USA is among the most important examples of this. With the ProShares Bitcoin Strategy ETF, the company broke a record by raising $1.2 billion in funds in its first week.
Looking at the content of the ProShares Metaverse ETF on the agenda, it is noteworthy that it focuses on technology companies traded in the US stock markets. In this context, although the ETF does not directly focus on projects in the decentralized finance space, the approval of this ETF is seen as important in terms of its potential to lay the groundwork for a crypto Metaverse-focused ETF in the future.