Alternative Investments/Digital: Fidelity Canada Launches Total Metaverse Index ETF

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The new ETF listed on the NEO Exchange.

Fidelity Investments Canada launched today the Fidelity Total Metaverse Index ETF on the NEO Exchange under the ticker symbol FMTV. The metaverse is a term used to describe a potential future state of the Internet characterized by a network of augmented reality and virtual worlds that can be experienced persistently and in a shared environment by large numbers of users. The metaverse allows people to engage in various online experiences in a more immersive way, using devices such as virtual reality (VR) and/or augmented reality (AR) headsets. The potential market opportunity of the metaverse is estimated at over $1 trillion in yearly revenues. (BusinessWire)

Fidelity Total Metaverse Index ETF

The new ETF will focus on companies that would drive the development of the metaverse and will track the Fidelity Canada Total Metaverse Index.

The fund will therefore invest in companies globally that develop, manufacture, distribute, and sell products and/or services related to establishing and enabling the metaverse, including digital payment processing and cryptocurrency-related industries, which aim to support the digital economy of the metaverse.

The target composition of the Index is approximately 85% in the Metaverse category, and 15% in the Digital Payments & Crypto Industry category.

However, exposure to the Digital Payments & Crypto Industry is capped at 15% of the total index.

Fundspeak

“Leveraging Fidelity’s trusted investment expertise, vast global network and research capabilities, Fidelity Total Metaverse Index ETF will expand Fidelity’s thematic investing line up and offer investors access to companies that may revolutionize the digital world,” said Kelly Creelman, Senior Vice President, Products and Marketing, Fidelity Investments Canada ULC.

“The emergence of the Metaverse has unleashed a virtual world of possibilities, and Fidelity is at the forefront of providing access to never-before-seen investment opportunities in the space,” stated Jos Schmitt, President and CEO of NEO.

Related Story: CI Global Launches Blockchain and Metaverse ETFs

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