Both the Metaverse ETFs started trading on the TSE from Monday.

Canadian fund managers Horizons ETFs and Evolve Funds have launched the Horizons Global Metaverse Index ETF (“MTAV”) and the Evolve Metaverse ETF (“MESH”) respectively, on the Toronto Stock Exchange.

The metaverse is a term used to define an iteration of the Internet supporting persistent 3-D virtual environments combined with social media, communications and productivity tools allowing users to interact online in an immersive, virtual representation of the real world.

The metaverse combines online personal computing with virtual-reality and augmented reality technologies. Metaverse technologies are being used in business, social, education and retail applications.

With a growing demand in both virtual and augmented reality services, recent studies project the metaverse opportunity to reach at least USD800 billion of market capitalisation by 2024.

Evolve Metaverse ETF (“MESH”)

This ETF provides investors with an actively managed diversified portfolio of companies involved in the development of the metaverse.

The ETF charges a management fee of 0.60%.

Horizons Global Metaverse Index ETF (“MTAV”)

The new ETF is designed to enable investors to capture the massive performance potential of companies operating in the fields of AR/VR, Creator Economy, Digital Infrastructure, Digital Marketplaces, Gaming, and Digital Payment. (ETF Express)

The ETF will track the recently released Solactive Global Metaverse Index.

“The metaverse is the next frontier of the human experience and technological innovation. We believe that the metaverse will become an extremely important realm for social and economic interaction over the next decade,” says Steve Hawkins, President and CEO of Horizons ETFs.

“Even today, these technologies are already reframing the way that we engage with one another, from virtual reality to non-fungible tokens (“NFTs”). MTAV is the first index-based ETF in Canada to offer direct exposure to the global companies that are investing heavily in building and expanding the digital worlds that encompass the metaverse.”

Related Story: Grayscale’s Report Paints The Metaverse As The Next Emerging Market Investment Frontier

Image credit: DEADMAU5 The Metaverse Festival by Flickr