BlackRock has launched a new exchange traded fund (ETF) called iShares Future Metaverse Tech and Communications ETF (IVRS) on NYSE Arca, which invests in companies providing technology, hardware and software that enable the metaverse and virtual interactions. The fund seeks to track the Morningstar Global Metaverse & Virtual Interaction Select Index, which measures the performance of equity securities issued by US and non-US companies that enable the metaverse and virtual interactions, as determined by Morningstar.
ETF Newz Says:
The fund's top holdings as of February 16 include Meta (formerly Facebook), Nvidia Corp., and Apple. While the fund does target companies that facilitate the use of payment solutions or digital assets in the metaverse or enhanced shared virtual spaces, it does not invest in cryptocurrencies or other digital assets directly or indirectly through the use of derivatives on such assets. The fund carries an expense ratio of 0.47%.