BlackRock is launching a metaverse ETF on the New York Stock Exchange, but it's not the first of its kind. In fact, the giant has already designed a product on the same theme for the European market, iShares Metaverse UCITS ETFlaunched last December on Euronext Amsterdam in dollars.
BlackRock launches Metaverse ETF on New York Stock Exchange
A clear sign that the asset manager, despite the gloomy context, believes in this announced revolution. It could reach a market value of $800 million by 2025 and generate annual revenues of up to $ 5000 billion by 2030according to a report by McKinsey. This is an attractive prospect, which has prompted BlackRock to take advantage of a market downturn to invest in it.
In fact, his new fund, the iShares Future Metaverse Tech and Communications ETFinvests in technology companies exposed to the metaverse. Not surprisingly, these include Meta Platforms (META), Apple (AAPL), Nvidia (NVDIA), Netease (NTES) and Roblox (RBLX). Companies covering a wide range of experimental areas in this field, from virtual platforms to social networks, game3D software, digital assets and, of course, virtual and augmented reality.
[Le métavers]At this point it looks a lot like the internet of the early 90s or the smartphone of the early 2000s. We expect it to be big and change people's daily lives. Reid Menge, co-portfolio manager of the BlackRock Technology Opportunities Fund, quoted in CoinDesk
So BlackRock is clearly stating long-term positioning. Its competitors with established ETFs whose values are all down -. Global X Metaverse (VR), Round Ball Metaverse ETF (METV) e Fidelity Metaverse ETF (FMET)– will now have to deal with the giant of global investment funds.
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