Fidelity Investments has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a Metaverse exchange-traded fund (ETF) that will track public companies with exposure to the blockchain-based network of three-dimensional, virtual reality technology.
The Fidelity Metaverse ETF will track “the performance of a global universe of companies that develop, manufacture, distribute, or sell products or services related to establishing and enabling the Metaverse,” according to the regulatory filing.
Fidelity’s application is the latest among companies looking to address skyrocketing interest in the metaverse. Last December, ProShares filed a metaverse ETF application with the SEC.
In June, Roundhill Investments launched a metaverse ETF that trades on the New York Stock Exchange.
Four South Korean asset management funds are also now listing metaverse-related ETFs, the first in that Asian country.
Yesterday (January 27), the SEC rejected a Fidelity spot Bitcoin (BTC) ETF, adding to the recent list of rejected applications for cryptocurrency focused ETFs.
