Metaverse ETFs Continue to Heat Up: Can Institutional Acceleration Drive Investment Momentum?

As the concept of "Metaverse " continues to gain momentum, numerous internet and technology companies are racing to file for "Metaverse "-related trademarks, and metaverse ETFs have also attracted enthusiastic追捧 from market investors, with mainstream institutions vying to apply for the launch of metaverse funds. Following the United States, South Korea, and Canada, China's Hong Kong also saw its first metaverse-themed ETF listed on the Hong Kong Stock Exchange. Which metaverse ETFs have been launched or are in the pipeline globally? Can this rapidly growing sector become an explosive hotspot in 2022?

Global Distribution of Major Metaverse ETFs

The metaverse concept gained significant traction in 2021, particularly reaching its peak热度 during the third quarter alongside Facebook's rebranding. The metaverse-related sectors gradually exploded globally, encompassing not only metaverse-related gaming and NFT projects which saw massive growth, but also several metaverse ETFs (exchange-traded funds) that attracted strong追捧 from investors.

According to incomplete statistics, as of now, 10 ETFs named after the metaverse have been issued globally, including 4 from South Korea, 3 from the United States, 2 from Canada, and 1 from Hong Kong, China. As the first Asian country to launch metaverse ETFs, South Korea saw its first batch of 4 metaverse ETFs listed last October, including the actively managed KODEX K-Metaverse Activ fund launched by Samsung Asset Management, along with three passively managed funds: KBSTAR i Select Metaverse managed by KB Assets, Hanaro Fn K-Metaverse MZ launched by NH Amundi Asset Management, and Tiger Fn Metaverse by Mirae Asset. These ETFs attracted $100 million in fund inflows within less than 2 weeks.

According to data disclosed by Samsung Asset Management, as of January 19, 2022, the total fund inflows into South Korean metaverse ETFs had exceeded $1 billion, with over $800 million flowing into the 4 ETFs focused on Korean metaverse concept stocks, including Samsung's metaverse ETF. An additional $338 million or more flowed into broader global metaverse ETFs. 70% of these fund inflows came from retail investors. Therefore, South Korea can be considered one of the fastest-growing metaverse ETF markets globally.

If South Korea is currently the fastest-growing metaverse ETF market globally, then the United States is the largest market for metaverse ETFs at present, with 3 metaverse ETFs issued so far: the Roundhill Ball Metaverse ETF (METV) launched by Roundhill Investments, the Subversive Metaverse ETF (PUNK) launched by the venture capital firm Subversive Capital, and the Fount Metaverse ETF (MTVR) launched by Fount.

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Source: roundhillinvestments. com Date: March 3, 2021

Among them, the Roundhill Ball Metaverse ETF was established on June 30, 2021. As of January 12 of this year, its assets under management (AUM) approached $950 million, making it the largest metaverse ETF globally. In terms of holdings, METV primarily invests in areas such as hardware and virtual platforms, currently holding positions in 46 companies engaged in metaverse布局, including NVIDIA, Microsoft, and Meta (formerly Facebook).

Comparatively, Canada's two metaverse ETFs have performed relatively "poorly." The Evolve Metaverse ETF (MESH) and the Horizons Global Metaverse Index ETF (MTAV), launched by two fund companies in November last year, both experienced a "peak at listing" scenario. The former primarily invests in North American and other global market metaverse stock portfolios, including Activision Blizzard, Roblox, Microsoft, and Meta; the latter replicates the performance of the Solactive Global Metaverse Index, with top-weighted companies including Tencent, S4 Capital, and Qurate Retail.

Tech Giants Compete for布局, Metaverse ETF Momentum Remains Strong

Looking at the Chinese market, prior to this year, there were no domestically listed fund products directly named after the metaverse. As metaverse热度持续, Hong Kong's first metaverse-themed ETF—CSOP Metaverse Concept ETF (CSOP Metaverse)—was launched and listed on the Hong Kong Stock Exchange on February 21 of this year, with an initial price of approximately HK$7.8 per share, each lot of 100 shares, and a management fee of 0.99%. According to market data, the ETF peaked at HK$8.2 on its first listing day and closed at HK$7.805 as of March 3.

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As Hong Kong's first metaverse ETF, the CSOP Metaverse Concept ETF was launched by CSOP Asset Management, adopting an actively managed strategy and primarily investing in companies that provide products or services conducive to metaverse development. Looking at the investment portfolio of this metaverse concept ETF, the top ten holdings are primarily global major tech companies and chip manufacturers, including Meta (formerly Facebook), Roblox, NVIDIA, Unity, and Apple.

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As investors pour into the metaverse, the growth trend of the metaverse ETF market continues, and competition among global asset management companies may intensify. From last year to this year, major global investment companies have been applying to launch metaverse ETF funds. As of now, based on incomplete statistics, several well-known asset management institutions including Global X and Fidelity have submitted applications to launch metaverse funds.

On February 4, Global X, an exchange-traded fund (ETF) issuer headquartered in New York, applied to launch the metaverse fund "Global X Metaverse ETF." This ETF will primarily invest in securities comprising Global X's own metaverse index. Global X was established in 2018 and currently offers over 90 ETFs in the United States, with total assets under management of approximately $40 billion. Among these, the blockchain ETF launched last July has grown to approximately $85 million in assets.

Additionally, according to Bloomberg ETF analyst Hearsay, US Fidelity Investments (Fidelity) has also submitted a metaverse ETF application—Fidelity Metaverse ETF—to the US Securities and Exchange Commission, aiming to track the Fidelity Metaverse Index, which includes companies involved in developing, manufacturing, distributing, selling, and establishing metaverse-related products. However, this ETF will not invest in digital assets directly or indirectly through crypto derivatives.

Currently, for the global technology sector, the metaverse is undoubtedly one of the hottest topics, representing an entirely new stage of development and a fresh赛道. It can be预见 that as major tech companies "rush to stake their claim," with the rising metaverse热度, the ETF market may continue to grow. According to a Bloomberg report, as of December 28, 2021, the global metaverse ETF market surged to $2.2 billion. Meanwhile, Bloomberg-compiled data predicts that the metaverse market size will reach approximately $80 billion by 2024.

However, it should be noted that despite the metaverse being a future trend, it is currently still in an exploratory and preliminary development stage. This field still has considerable development空间 and a long road ahead. Nevertheless, the current market火热 and participation by mainstream institutions also reflect investors' significant confidence and interest in the future development of the metaverse, making it promising to become a main investment market hotspot this year.

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