Hong Kong-based CSOP Asset Management has become the island’s first fund manager to launch an ETF focused on the metaverse.
The CSOP Metaverse Concept ETF is an actively managed fund listed on the Hong Kong Stock Exchange that will invest mainly in US companies.
The metaverse, a term used to describe an online world bidding to generate its own economy, has become an area of intense focus for the investment world and beyond.
The US has seen a number of ETF launches focused on the three-dimensional, virtual world as has South Korea which saw eight such launches in January. Furthermore, 70% of the inflows into metaverse ETFs in South Korea were from retail investors.
The metaverse global market is expected to be worth more than $1.5 trillion by 2030, up from just $5 million in 2020, according to date from Bloomberg and PwC cited by CSOP.
“The metaverse represents the beginning of a brand new era, in which a parallel new world will be created,” said Melody He, deputy CEO. She added that the fund launch is “our attempt at something new and futuristic”.
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