Specialist fund manager BetaShares has provided investors access to the digitally-based metaverse economy via a new exchange-traded fund (ETF) introduced to the Australian Securities Exchange (ASX) today.
The BetaShares Metaverse ETF, trading under the ASX ticker MTAV, will track the Bloomberg Metaverse Select Index as its underlying asset and currently provides access to a portfolio of shares in 32 organisations already generating revenue from the sector. Further, the offering is aiming to give individuals exposure to specialised companies that will focus on the core technologies enabling metaverse development and growth.
On a broader level, the metaverse economy is comprised of virtual assets and those in the augmented reality space, including gaming activities, artificial intelligence, advertising, and digital currencies and tokens. It is expected to play a key role in the digitalisation and virtualisation of communities, experiences and commerce.
From a dollar-value perspective, the metaverse has been forecast by Bloomberg Intelligence to present a market opportunity of around $800 billion in annual revenue within the next two years.
BetaShares chief executive Alex Vynokur described the metaverse as a megatrend with the ability to reshape the way in which people connect with their friends, family and the community in general.
“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,” 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.”