BlackRock launches new metaverse ETF
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BlackRock, the world's largest asset manager, has launched a new metaverse-focused ETF, joining the likes of Roundhill Investments, ProShares, and other ETF issuers to compete in the increasingly crowded space.
The iShares Future Metaverse Tech and Communications ETF (NYSEARCA:IVRS) offers the investment community exposure to companies providing both the hardware and software used within the metaverse.
The metaverse allows consumers to immerse themselves in a virtual world that's interconnected through digital platforms, social media gaming, 3D software and both augmented and virtual reality.
IVRS trades on the New York Stock Exchange and comes attached with an expense ratio of 0.47%, which is cheaper than most of its competitor funds.
Four funds that IVRS will be fighting alongside with include the Roundhill Ball Metaverse ETF (NYSEARCA:METV), ProShares Metaverse ETF (NYSEARCA:VERS), Subversive Metaverse ETF (PUNK), and the Fidelity Metaverse ETF (FMET).
FMET is the only fund of the four with a lower expense ratio as its cost sits at 0.39%.
From a holdingâs perspective, 22.66% of IVRS is made up of just four stocks. The top four holdings of IVRS include Meta Platforms (NASDAQ:META) at 6.19%, Apple (AAPL) at 5.73%, Nvidia (NVDA) at 5.53%, and Roblox (RBLX), which holds a 5.21% weighting.
BlackRock stated in reference to the metaverse: âThe investment opportunities are here and now."