ProShares on Tuesday filed with the U.S. Securities and Exchange Commission for an ETF focused on the metaverse, called the ProShares Metaverse Theme ETF.
Subject to approval by the SEC, the proposed ETF will track the performance of the Solactive Metaverse Theme Index (SOMETAV), consisting of firms providing or using metaverse-related technologies, including data processing and metaverse devices, the ETF prospectus reads.
The index includes U.S. companies that are listed on the New York Stock Exchange or The Nasdaq Stock Market and meets certain market capitalization and liquidity requirements, ProShares said. Electronics giants such as Apple and Nvidia as well as social media such as Meta, formerly Facebook, are reportedly among the index’s top components.
ProShares’ metaverse ETF filing comes amid global companies increasingly venturing into the metaverse and nonfungible tokens (NFT) industry.
On Nov. 29, two Canadian companies, Evolve Funds Group and Horizons ETFs Management, started trading their metaverse ETFs on the Toronto Stock Exchange. Similar to the ProShares Metaverse Theme ETF, the Horizons Global Metaverse Index ETF is tracking SOMETAV.