Alternative Investments/Digital: Franklin Templeton To Debut Metaverse ETF In Europe

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The new Franklin ETF will list on the Deutsche Boerse on September 7, and the LSE and Borsa Italiana on September 9.

Franklin Templeton is launching the Franklin Metaverse UCITS ETF (FLRA) on European exchanges, the announcement coming on the heels of the debut of the Fidelity Metaverse UCITS ETF (FMTV) earlier this week.

Franklin Metaverse UCITS ETF (FLRA)

The new ETF will track the Solactive Global Metaverse Innovation Net Total Return index which offers exposure to companies that have “significant exposure” to the metaverse and supporting blockchain technologies. (ETF Stream)

The companies would belong to these segments: Metaverse Technology, Platforms, and Devices, Interchange Standards, Data processing, Blockchain Technology, and Digital Asset Platforms.

The ETF, which currently holds 60 constituents, has a total expense ratio of 0.30%.

The ETF will also exclude companies that do not align with the United Nations Global Compact Principles.

Fundspeak

Dina Ting, head of global index portfolio management at Franklin Templeton, said: “Many big tech companies have already pivoted towards the metaverse for their next major area of development in the same way that many did at the inception of the internet.”

“There appear to be tremendous real-world business opportunities for investment in this space considering that by 2030, the eCommerce market could grow between $2trn to $2.6trn.”

Caroline Baron, head of ETF business development at Franklin Templeton, added: “We are delighted to be an early mover in this space and therefore provide European investors with access to a pool of cutting-edge companies across the key metaverse segments.”

“FLRA allows investors to diversify their core holdings and satellite thematic sleeves in their existing portfolios and participate in the expected secular growth of the underlying megatrend that is digitisation.”

Timo Pfeiffer, Chief Markets Officer at Solactive, said: “We are starting to see unimaginable worlds in virtual spaces, which create different forms of communication, new ways of interacting with each other, and new manners of doing business. This all happens thanks to the enhancement of progressive technology and rising computation power. This scenario is paving the way for the metaverse, which is one of the most latent trends at the moment and, likely, in the years to come.”

Related Story: Invesco Launches Metaverse Fund

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