BlackRock prepares new ETF metaverse
Metaverse and NFT

BlackRock prepares new ETF on metaverse despite unfavorable market conditions

BlackRock is a firm with $10 trillion in assets under management. Just after announcing an ETF dedicated to blockchain companies, it is working on launching a new metaverse-focused index fund.

BlackRock has thus filed for a new metaverse product, Bloomberg reports Thursday. Blackrock iShares Blockchain and Tech ETF was launched in late April in the U.S. and recently in Europe. It has had a mixed start in terms of interest.

Blackrock, iShares Future Metaverse ETF

Blackrock intends to follow companies working around the metaverse and offering “products related to virtual platforms, social media, games, digital assets or augmented reality“.

In addition, BlackRock has recently also accelerated into the crypto-segment. It has launched this summer of a “private trust” that allows institutional investors to gain exposure to Bitcoin and its spot price.

This is the second major announcement for BlackRock in less than 24 hours.

As a reminder, an ETF, for Exchange Traded Fund, is an investment fund which, as its name indicates, is listed on the stock exchange. This means that it can be bought or sold during the opening hours of the stock exchange, just like a traditional share. The particularity of an ETF is that it aims to replicate the performance of another stock index in order to achieve the same return.

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