BlackRock, the world's largest asset manager, is planning a new ETF aimed at capitalizing on metaverse-facing companies, Bloomberg reported.
The new fund, the iShares Future Metaverse Tech and Communications ETF, is the latest foray into the blockchain ecosystem for the New York-based investment giant. The company just launched the iShares Blockchain Technology UCITS ETF that tracks the New York Stock Exchange FactSet Global Blockchain Technologies capped index, targeted towards European customers.
In August, BlackRock announced it was partnering with Coinbase to provide clients with crypto trading, custody, prime brokerage and reporting capabilities.
BlackRock now joins other traditional finance companies in launching funds composed of companies with exposure to the metaverse, including Franklin Templeton, Invesco, and Fidelity.