Blackrock, the world’s largest asset manager, has recently entered the digital asset landscape and web3 with the launch of a metaverse-themed ETF. The iShares Future Metaverse Tech and Communications ETF (IVRS US) was listed on NYSE Arca with an expense ratio of 0.47% on February 14th.
The fund aims to capitalize on the growth potential of the metaverse by investing in companies focused on developing the metaverse ecosystem. With a net asset value of approximately $5.02 million as of February 17th and a daily volume of 410, the fund primarily consists of US-listed stocks, with notable allocations to companies like Meta Platforms, Apple, Nvidia, and Roblox.
In order to be included in the fund, companies must have a market cap of at least $300 million and trading volumes of $2 million. Each company will receive a relevance score based on six metaverse sub-themes, including Wearable Technology and VR/AR, Enhanced Social Media, and Immersive Gaming. This rating system will determine the company’s potential revenue growth from the sub-theme over the next five years.
The fund will be rebalanced annually in December, providing investors with exposure to the rapidly evolving metaverse landscape. Blackrock’s entry into the metaverse-themed ETF market is part of a growing trend in the US, with other funds like the Roundhill Ball Metaverse ETF already established. Stay updated by following us on Google News.