Financial services giant Fidelity has applied for an ETF that will track companies that develop and sell products for the metaverse.
Fidelity Investments has applied for a Metaverse ETF after the Bitcoin spot ETF was rejected. The Fidelity Metaverse ETF will track the Fidelity Metaverse Index, which tracks “the performance of a global universe of companies that develop, manufacture, distribute or sell products or services related to installing and activating the Metaverse,” according to the application.
Fidelity’s app is the latest among companies looking to address the rapidly growing interest in the metaverse. Last December, ProShares filed a metaverse ETF with the SEC. In June, Roundhill Investments launched a metaverse ETF traded on the New York Stock Exchange. All four major South Korean wealth management funds are currently listing metaverse-related ETFs, a first in the country.
Geode Capital Management will be the sub-advisor of the Fidelity fund.
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