Leveraged metaverse and sports betting ETFs plan to launch
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The metaverse and sports betting space are two thematic market areas that have grown exponentially, and now the investment community may have access to two new leveraged exchange traded funds that can compound their positions further.
According to a U.S. Securities and Exchange Commission filing, Elevate Shares intends to launch the Elevate Shares 2X Daily METV ETF and the Elevate Shares 2X Daily BETZ ETF, which are leveraged funds that correspond with the Roundhill Ball Metaverse ETF (NYSEARCA:METV) and the Roundhill Sports Betting and Gambling ETF (NYSEARCA:BETZ).
Both ETFs aim to achieve their investment objectives by investing in swap agreements that provide daily leveraged exposure to METV and BETZ or their underlying holdings. Moreover, see a breakdown of both METV and BETZ below.
METV: In 2022 METV is -13.3% in less than three months as the fund debuted back on Jan. 31. Additionally, since its inception, the ETF has accumulated $93.8M AUM and is attached with a 0.59% expense ratio and 43 holdings led by Meta Platforms (FB) at 8.54%.
BETZ: The sports gambling fund has plunged 25.6% YTD and is also down 40.9% over a one-year trading period. BETZ also comes forward with $232.4M AUM, a 0.75% expense ratio, and 44 holdings led by Entain Plc (OTCPK:GMVHF) at 5.13%.
In accordance with the prospectus, both exchange traded funds will be actively managed, yet they have not been given ticker symbols or expense ratios at this time.
For greater analysis of the underlying ETFs METV and BETZ, see Seeking Alphaâs complete quantitative and fundamental metrics for both funds.