Global X aims to enter the metaverse market with a new ETF
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Global X aims to compete in the metaverse space, filing with U.S. regulators to launch the Global X Metaverse ETF. The metaverse ETF will track the Global X Metaverse Index and aims to provide exposure to stocks best positioned to capitalize from the development and commercialization of the metaverse.
Global X defines the metaverse space as a set of virtual, three-dimensional, real-time rendered spaces and simulations that can be experienced simultaneously by users regardless of the usersâ physical location.
The ETF will also offer global exposure as stocks inside the fund. Investments will not only come from the United States but will also provide eligible companies from countries like China, Germany, France, Japan and Canada, as well as other countries as needed. Additionally, the fund may also invest in small-, mid-, and large-cap stocks as well.
According to the U.S. Securities Exchange Commission filing, Global X has not provided the ETF with a ticker symbol or expense ratio at this time.
The metaverse has become a popular market segment for investors led by Meta Platforms (NASDAQ:FB) and now ETFs such as the Roundhill Ball Metaverse ETF (NYSEARCA:METV) and Subversive Metaverse ETF (BATS:PUNK).
Furthermore, other ETF issuers also look to join the party alongside Global X, such as ProShares and First Trust Exchange Traded Funds.