Fidelity Investments has filed an application for a Metaverse ETF, aiming to track public companies with exposure to the blockchain-based network of three-dimensional, virtual realities.
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The Fidelity Metaverse ETF will track the Fidelity Metaverse Index, which tracks “the performance of a global universe of companies that develop, manufacture, distribute, or sell products or services related to establishing and enabling the Metaverse,” according to the filing
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Fidelity’s application is the latest among companies looking to address skyrocketing interest in the metaverse. Last December, ProShares filed a metaverse ETF application with the SEC.
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In June, Roundhill Investments launched a metaverse ETF that trades on the New York Stock Exchange. Four major South Korean asset management funds are also now listing metaverse-related exchange-traded funds (ETFs), the first in the country.
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Geode Capital Management will be a sub-adviser for the Fidelity fund.
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On Thursday, the SEC refused to approve a Fidelity spot bitcoin ETF adding to the recent list of rejected applications.
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Michael Bellusci is CoinDesk’s crypto payments reporter.
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