Share this article
Fidelity Seeks SEC Approval for Metaverse ETF
The financial services giant filed an application for an ETF that will track companies developing and selling products for the metaverse.
Updated May 11, 2023, 7:17 p.m. Published Jan 28, 2022, 1:51 a.m.
Make us preferred on GoogleFidelity Investments has filed an application for a metaverse exchange-traded fund (ETF), aiming to track public companies with exposure to the blockchain-based network of three-dimensional, virtual realities.
- 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.
- Fidelity’s application is the latest among companies looking to address skyrocketing interest in the metaverse. In December, ProShares filed a metaverse ETF application with the U.S. Securities and Exchange Commission.
- 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, the first in the country.
- Geode Capital Management will be a sub-adviser for the Fidelity fund.
- On Thursday, the SEC refused to approve a Fidelity spot bitcoin ETF adding to the recent list of rejected applications.
Read more: ProShares Files Application With SEC for a Metaverse ETF
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Crypto payments firm BCB Group appoints Tim Renew as CEO in leadership reshuffle
Renew will lead the digital asset payments firm, with co-founder Oliver Tonkin moving into a newly created president role.
What to know:
- Tim Renew is being promoted from deputy CEO to CEO after joining BCB Group in 2024.
- Co-founder Oliver Tonkin will transition to president, remaining involved in strategy.
- The change follows a year of growth and international expansion for the firm.
Top Stories
