black rock is iShares Future Metaverse Tech and Communications ETF (NYSE Arca: IVRS)is an exchange-traded fund that invests in companies that provide the technology, hardware, and software that enable virtual interactions with the Metaverse. The fund will begin trading on NYSE Arca today.
IVRS seeks to track the investment results of the Morningstar Global Metaverse & Virtual Interaction Select Index. The index measures the performance of stocks issued by US and non-US companies that enable virtual interactions with the Metaverse, as determined by Morningstar. Index providers define the metaverse as a three-dimensional, immersive digital world.
Morningstar evaluates companies based on their five-year net profit and revenue projections as a producer or supplier across six themes: virtual platforms, social media, gaming, 3D software, digital assets, virtual reality and augmented reality. . Top holdings as of February 16 include Facebook’s parent company Meta, Nvidia Corp., and Apple.
The fund is intended for companies that facilitate the use of payment solutions or digital assets in the metaverse or enhanced shared virtual space, but directly or indirectly through the use of derivatives of such assets or other digital assets.
Todd Rosenbluth, Head of Research at VettaFi, said: “We have seen advisors use these diverse products to gain exposure to long-term trends.”
The IVRS expense ratio is 0.47%.
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