According to a filing with the SEC, Fidelity Investments has registered a metaverse ETF. Companies developing metaverse-related goods would be the focus of the ETF. The Securities and Exchange Commission has approved a new ETF from Fidelity Investments (SEC). The Fidelity Metaverse Index is an ETF that focuses on the metaverse, according to the filing.
In December 2021, ProShares, which already has a successful bitcoin ETF, applied for a comparable ETF. Fidelity’s proposal for a spot bitcoin ETF was denied by the SEC earlier this week, and the SEC has been adamant in its opposition to spot ETFs for the market.
Meta is all-in on the metaverse, with its Oculus line of virtual reality devices expected to play a big role. The metaverse’s potential to engage fans and create unique experiences is enormous, and huge corporations are eager to cash in. Users will be able to interact with their favourite experiences and characters, and maybe even profit from them.
Decentralized initiatives such as Decentraland (MANA) and The Sandbox (SAND) are also constructing virtual worlds.
So what do you think about the metaverse? Let us know by commenting below.
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