Metaverse News

BlackRock Launches Metaverse ETF

BlackRock, the world’s largest asset management firm, known for its recent ventures into the cryptocurrency space, has now introduced a metaverse ETF. This fund, listed on the New York Stock Exchange, is called the “iShares Future Metaverse Technology and Communications ETF.”

Having formed partnerships with major cryptocurrency entities like Coinbase and USDC issuer Circle, and having launched private Bitcoin funds along with investments in numerous cryptocurrency companies, BlackRock has expanded its portfolio by launching a metaverse ETF.

BlackRock Launches Metaverse ETF
BlackRock Launches Metaverse ETF

The exchange-traded fund, “iShares Future Metaverse Tech and Communications ETF (IVRS US),” is listed on the New York Stock Exchange. The IVRS US fund aligns with the Morningstar Global Metaverse & Virtual Interaction Selection Index, which selects its constituent companies from both developed and emerging market countries, excluding India. These companies are required to have a market valuation of at least $300 million and a minimum daily trading volume of $2 million.

Lately, companies like Meta, Microsoft, Apple, and Amazon have been notably competing in the metaverse sector. In recent developments, BlackRock has made significant investments in the Core Scientific mining company, which was nearing bankruptcy, and Silvergate, which was also facing challenging times.

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