BlackRock to launch exchange-traded fund with focus on metaverses

BlackRock had previously launched a blockchain ETF for European clients

30.09.2022 - 06:45

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What’s new? BlackRock, the world’s largest investment company by assets under management ($10 trillion as of January 2022), plans to launch a new exchange-traded fund (ETF) with a focus on companies operating in the field of metaverses. Bloomberg reports, citing its own sources.

News on the Bloomberg website

What is known about BlackRock? It is one of the world’s largest asset management and investment companies. The company’s shares are traded on the New York Stock Exchange (NYSE) under the ticker BLK. As of September 30, 06:30 UTC, the share price is $563,92, down by 3,67% per day.

What is known about the new ETF? With a new exchange-traded fund called the iShares Future Metaverse Tech and Communications ETF, BlackRock plans to give its clients the opportunity to add companies related to the promising direction of metaverses to their investment portfolios. The move will join BlackRock with other traditional financial institutions that focus on metaverses, including Franklin Templeton, Invesco, and Fidelity.

On September 29, it became known that BlackRock had launched a blockchain exchange-traded fund called the iShares Blockchain Technology UCITS ETF. It is available to European clients. BlackRock’s blockchain ETF with a total expense ratio of 0,5% has 35 assets and is listed on the Euronext stock exchange. It includes cryptocurrency exchange Coinbase, investment firm Galaxy Digital and mining firm Marathon Digital, among others. The fund also includes PayPal, NVIDIA, and IBM.

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