VR glasses for the metaverse

Global X Metaverse ETF VR is the latest fund to join the crowded metaverse

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VR glasses for the metaverse

AntonioSolano/iStock via Getty Images

Global X has entered the Metaverse with the firm’s latest launch of the Global X Metaverse ETF (VR). VR is a thematic fund that aims to invest in businesses that are best situated to benefit from the evolution and growth of the Metaverse.

This includes stocks involved in the development of hardware and software that allow users to experience extended digital realities, creator platforms, creator economies, as well as digital infrastructure/hardware, such as semiconductors, cloud computing technology and 5G infrastructure supporting digital media consumption.

VR comes to market with a 0.50% expense ratio, and 40 holdings led by Nintendo (OTCPK:NTDOY), NEXON (OTCPK:NEXOF), and Netease (NTES), weighted at 9.48%, 7.63%, 6.99%, respectively.

Global X’s VR will have its work cut out as the metaverse has become increasingly crowded with other exchange traded funds like the Fidelity Metaverse ETF (FMET), Roundhill Ball Metaverse ETF (METV), ProShares Metaverse ETF (VERS), and the Subversive Metaverse ETF (PUNK).

According to Global X: “The global Metaverse market is expected to increase more than 50% from 2021 to 2022, exceeding $100bn. Forecasts suggest it could surpass $1.5tn by 2029, highlighting the substantial room for growth.”

Elsewhere in the sector, Elevate Shares also intends to launch a leveraged metaverse fund called the Elevate Shares 2X Daily METV ETF.

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