Fidelity Seeks SEC Approval for Metaverse ETF
Fidelity Investments has filed an application for a Metaverse ETF, aiming to track public companies with exposure to the blockchain-based network of three-dimensional, virtual realities.
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 establishing and enabling the Metaverse,” according to the filing Fidelity’s application is the latest among companies looking to address skyrocketing interest in the metaverse. Last December, ProShares filed a metaverse ETF application with the SEC. In June, Roundhill Investments launched a metaverse ETF that trades on the New York Stock Exchange. Four major South Korean asset management funds are also now listing metaverse-related exchange-traded funds (ETFs), the first in the country. Geode Capital Management will be a sub-adviser for the Fidelity fund.On Thursday, the SEC refused to approve a Fidelity spot bitcoin ETF adding to the recent list of rejected applications.
Read more: ProShares Files Application With SEC for a Metaverse ETF