Alternative Investments/Digital: First Trust Launches Index Metaverse ETF
The new ETF is titled the First Trust Indxx Metaverse ETF (NASDAQ: ARVR)
ETF provider and asset manager First Trust Advisors announced the launch of the First Trust Indxx Metaverse ETF (NASDAQ: ARVR), which tracks an index called the Indxx Metaverse Index. This index comprises companies that are involved in offering technologies that assist in creating the Metaverse. (BusinessWire)
Indxx Metaverse ETF (NASDAQ: ARVR)
The term “Metaverse” describes the next generation of the Internet, which has the potential to allow creators to build the next chapter of human interaction through immersive experiences in three-dimensional virtual spaces.
The Index delineates the Metaverse into the following sub-themes: Internet protocol & contents; platforms; payment; optics & display; and semiconductors, hardware, and 5G.
“Although the Metaverse is still in its early stages, we believe this ecosystem offers tremendous opportunity for innovation, including many applications that we don’t fully appreciate today,” said Ryan Issakainen, CFA, Senior Vice President and ETF Strategist at First Trust.
“Technological innovation deployed in the construction of the ongoing initiatives to build a metaverse is laying the foundation for a new digital frontier. In this regard, bold new ventures are leaning into the future to create a more dynamic and exciting era of opportunity in the digital space. These areas in particular are ripe for investor exposure, especially due to their potential application in a variety of industries,” said Rahul Sen Sharma, Managing Partner at Indxx.
Earlier this month, Fidelity Investments launched a Metaverse themed ETF titled the Fidelity Metaverse ETF (FMET). It is a self-indexed ETF, utilizing Fidelity’s proprietary indices, constructed by Fidelity’s quantitative investing team, to identify equity securities that offer exposure to the Metaverse theme.
Related Story: Fidelity Launches Crypto And Metaverse Themed ETFs
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