- Despite the lackluster reception of BlackRock’s first slew of ETFs, the asset manager is launching the iShares Future Metaverse Tech and Communications ETF in the hope to turn things around.
- BlackRock now joins other traditional finance companies in launching funds composed of companies with exposure to the metaverse, including Franklin Templeton, Invesco, and Fidelity.
BlackRock (-3.67%), the world’s largest asset manager, with some US$10 trillion in assets, has already launched cryptocurrency and blockchain-focused ETFs, but is now announcing that it will be creating an ETF that gives its clients exposure to metaverse companies.
Despite the lackluster reception of BlackRock’s first slew of ETFs, the asset manager is launching the iShares Future Metaverse Tech and Communications ETF in the hope to turn things around.
Although prices remain weak, investment and interest in metaverse, blockchain, Web3, and cryptocurrency appear strong despite the negative sentiment and a worsening macroeconomic backdrop.
The BlackRock fund, for which fees and a ticker weren’t yet issued, might possibly include firms that have products or services tied to virtual platforms, social media, gaming, digital assets, augmented reality and associated applications.
Blackrock recently launched the iShares Blockchain Technology UCITS ETF that tracks the New York Stock Exchange FactSet Global Blockchain Technologies capped index, targeted towards European customers.
In August, BlackRock announced it was partnering with Coinbase to provide clients with crypto trading, custody, prime brokerage and reporting capabilities.
BlackRock now joins other traditional finance companies in launching funds composed of companies with exposure to the metaverse, including Franklin Templeton, Invesco, and Fidelity.
