BlackRock Launches ETF To Capitalize On Growing Metaverse Opportunity

Zinger Key Points
  • New ETF offers investors exposure to metaverse hardware and software companies.
  • BlackRock's ETF competes with Roundhill Ball, ProShares, Subversive, and Fidelity metaverse funds.

One of the largest asset managers in the world, BlackRock Inc BLK, has now entered the growing competition in the metaverse ETF space with its launch of the iShares Future Metaverse Tech and Communications ETF IVRS.

This new ETF will provide investors with opportunities to invest in companies that manufacture both the hardware and software for the metaverse, which is a virtual world that combines social media, digital platforms, gaming, and augmented and virtual reality.

The iShares Future Metaverse Tech and Communications ETF is now trading on the New York Stock Exchange and has an expense ratio of 0.47%.

This expense ratio is lower than its competitors, such as the Roundhill Ball Metaverse ETF METV, ProShares Metaverse ETF VERS, and Subversive Metaverse ETF PUNK.

Only the Fidelity Metaverse ETF FMET is the only fund among the four that has a lower expense ratio of 0.39%.

Also read: New Metaverse ETF Launches From Roundhill Investments: What Investors Should Know

The iShares Future Metaverse Tech and Communications ETF's holdings include Meta Platforms Inc META, the parent company of Facebook and Oculus, with 6.31% weightage, followed by Apple Inc AAPL with 5.71%, Nvidia NVDA with 5.47%, NetEase Inc NTES with 5.18%, and Roblox RBLX with 4.90%.

With the metaverse representing an innovative industry with considerable potential, BlackRock has ventured into the space to offer investors new opportunities to invest in companies that are driving the future of the technology.

Next: Saudi Aramco Partners With droppGroup To Explore Blockchain-Based Web3 Technologies

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