Today coincheckup informs about ProShares planning to issue a metaverse EFT. Earlier this year the launched the first BTC futures. Expected growth for the sector is estimated at 1700% in 2028!
ProShares plans to launch a new exchange-traded fund (ETF) focused on companies developing virtual and augmented reality platforms, commonly referred to as metaverses. According to the SEC filing, the ProShares Metaverse Theme ETF will track the performance of the Solactive Metaverse Theme Index, which includes publicly traded companies that stand to benefit from the proliferation of the new technology.
Key takeaways:
- ProShares is an issuer of ETFs with over $65 billion in assets under management (AUM). The company rose to prominence earlier this year, when the firm launched the first US-traded Bitcoin futures ETF, dubbed the ProShares Bitcoin Strategy ETF (BITO).
- BITO debuted in October on the New York Stock Exchange (NYSE) with a bang, becoming the second most successful ETF launch in history as the fund recorded nearly $1 billion of trading volume within the 24 hours of its debut.
- Now, ProShares is gearing up for the launch of a metaverse ETF, which would allow investors to gain exposure to the rapidly growing sector. The fund will reportedly heavily favor major tech companies, with Apple, Meta, and Nvidia being the fund’s largest weightings.
- According to a market analytics firm Reports and Data’s study, the metaverse sector is set to grow exponentially over the next decade. The researchers project that the industry will generate $870 billion in revenue in 2028, up 1700% from $48 billion in 2020.
- The crypto gaming sector has experienced exponential growth over the last couple of months due to the hype surrounding metaverses which reached new heights after Facebook rebranded to Meta and showcased its commitment to the growing sector and novel monetization mechanics, with the most notable being the Play-to-Earn (P2E) concept.
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