BetaShares lists Metaverse ETF

By Penny Pryor

BetaShares has just launched an exchange traded fund (ETF) that provides investors with exposure to global companies that are building, developing and operating the Metaverse.

The ETF (MTAV) which is listed on the Australian Stock Exchange, tracks the Bloomberg Metaverse Select Index and invests in the likes of online gaming prlatform ROBLOX, multi-tech company Nvidia and the formerly known as Facebook, Meta Platforms.

Bloomberg has estimated the market opportunity for the metaverse to be $US800 billion.

"As the range of technologies underpinning the Metaverse evolves and user growth continues, this secular trend is expected to revolutionise the way we engage with sport, live music and other ways of staying connected," BetaShares chief executive officer Alex Vynokur said.

"While still in the early stages of evolution, the Metaverse has the potential to be one of the biggest secular growth trends of the coming decades. We are proud to provide investors with access to this investment opportunity. This innovative new fund will form part of our leading suite of thematic funds that offer investors exposure to the megatrends that are changing the world around us."

The ETF has a management fee of 0.69 per cent per annum.