Dubbed the iShares Metaverse Ucits ETF, the U.S. giant’s fund has made its debut on Euronext. “The metaverse has the potential to reshape all facets of society,” according to BlackRock.
Listed on most European exchanges since Dec. 9, 2022, BlackRock’s iShares Metaverse Ucits ETF replicates an index that relies on patent data analysis to identify companies that could gain traction in the metaverse segment.
“The STOXX Global Metaverse tracks the performance of some 60 large traditional firms with an appetite for the metaverse, including Activision Blizzard, Nvidia, Meta, Mastercard, Apple and Microsoft. The index also includes the crypto-currency exchange platform Coinbase.
For BlackRock, the metaverse technology market is expected to generate up to $5 trillion in revenue by 2030. The TradFi company had filed for a new metaverse product in September.
We see the metaverse as the next leap forward in global communication and connectivity. It has the potential to revolutionize many industries and processes, and reshape every facet of society, from how we work, consume, interact and produce. The iShares Metaverse UCITS ETF offers investors access to a diverse portfolio of companies that are building the metaverse and applying it to their businesses,” commented Omar Moufti, ETF product strategist at BlackRock.